South Korea Ready to Support Indonesia Startup Development

By : Herry Barus And Aldi Firhand. A | Friday, April 20 2018 - 22:12 IWST

startup illustration
startup illustration - Jakarta- South Korean Ambassador to Indonesia Kim Chang-beom admits ready to support startup development in Indonesia.

During the visit of South Korean President Moon Jae-in to Indonesia in November 2017, the Korean government has been in dialogue with the Indonesian government represented by the Ministry of Communication and Information and the Creative Economy Agency to discuss how to create 1,000 startup Indonesia by the end of 2020, an ambitious target initiated by President Joko Widodo.

"The South Korean government is working with the two ministries to encourage the startups of the two countries to collaborate with each other," said Ambassador Kim in Jakarta on Thursday (19/4/2018)

South Korea has long been home to a number of tech company giants.

But in recent years the country on the Korean Peninsula has become a fertile ground for pioneering or startup companies with young Koreans looking to try to open their innovation business.

Startup growth in South Korea is important considering that for a long time the Ginseng Country's economy depends on large-scale industries such as those in the automotive, shipping and construction industries.

In just over six decades, after the Korean War was over, South Korea is now enjoying rapid progress.

The once-poor country of the Korean peninsula has now become Asia's fourth largest economy and the eleventh in the world.

Nevertheless, with GDP values ​​reaching approximately US $ 1.5 trillion by 2017, there is anxiety that South Koreans feel if they can not continue to depend on such large industries as their growth will be limited due to market saturation and competition in various parts of the world.

The South Korean government also realized they had to find a way to open new businesses and jobs.

Reflecting from the experience of developed countries that successfully through the crisis by investing in technology pioneering companies, South Korea also follow their steps.

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