Invest KOREA

KOTRA ran an online showroom in InnoVEX in Oct

Korea Trade and Investment Promotion Agency (KOTRA: President and CEO, Kwon Pyung-Oh) joined COMPUTEX TAIPEI 2020, the biggest ICT trade show in Asia in October. Partnering with Gyeongbuk Creative Economy Innovation Center (GCEI), KOTRA ran a digital showroom for a month displaying innovations of Korea in InnoVEX, an exclusive exhibition showcasing creative ideas of startups worldwide.

The ICT startup platform of COMPUTEX, InnoVEX, has been sponsored by Taiwan External Trade Development Council (TAITRA) since 2016. KOTRA opened a Korea Pavilion online this year to help five startups find potential investors and get funding for business, while running several other programs like startup pitching session online, virtual business meeting and webinar mainly targeting VC investors in Asia. These participants took their shows online this year in particular with virtual events to prevent the spread of the coronavirus.

Thanks to success of annual flagship trade shows such as COMPUTEX, a growing number of venture capitalists are joining fundraising programs for early stage tech startups. An anonymous source from a local crowd funding platform says VC investors today are increasingly working with startups to provide seed funding and injecting capital into their high-tech innovations designed for personalization in customer service.

Head of KOTRA’s Invest KOREA, Chang Sang-Hyun, said “We’ll keep working on attracting foreign investment to help tech-startups remain globally competitive and form a startup ecosystem shaping the future of the VC industry.”

Source : KOTRA (2020.10.05)