Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) President Park Geun-hye Friday pledged to develop South Korea as a global venture business hub, vowing her government's full support for start-ups.

"I plan to develop our country as the most dynamically advancing global hub for business ventures," Park said in a speech at the opening ceremony for a venture academy by tech giant Google Inc.

Following a long stagnation for the past decade or so, the local venture sector is regaining vitality and vigor on the back of the increasing number of start-ups as well as more local investment by global technology companies, she noted.

"The government plans to actively encourage technology as well as global or local ventures while preparing more market-friendly, global-oriented government venture support programs in order to better support the private sector's initiative in the venture ecosystem," she noted.

Google's Campus Seoul, opened in the posh Gangnam district in southern Seoul, marks the tech giant's third overseas launching of the venture support facility.

The Seoul unit was first discussed between Park and Google CEO Larry Page during their meeting in April 2013, in Seoul.

"I am very pleased that Google, focusing on the growth potential of South Korea developers and venture firms, has opened the world's third, and Asia's first, campus," she said. "The opening of the Seoul Campus is an excellent choice by Google."

pbr@yna.co.kr

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Source: Yonhap News (May 08, 2015)