INVEST SEOUL, INVEST IN A READY CITY
No one will raise an objection that the hottest topic in 2020 is COVID-19.
For the first 2-3 months of the outbreak of COVID-19, which spread explosively, we had to give up our daily routine and were anxious because we did not know when we can be safe from the virus. And perhaps, we will have to fight more for a while.
Nevertheless, Korea was able to recover rapidly to daily life because the valuable experience and information communication technology (ICT) obtained by responding to past infectious disease such as swine flu and MERS, played an essential role.
Korea’s quarantine system is called ‘K-Epidemic’, and ‘3Ts’ (Tracking, Testing and Treatment) was an effective strategy for Korea to be known as an exemplar. Suspected patients were quickly diagnosed, and contact tracing was performed to prevent further spread and focused on treatment without missing the golden time. The ICT functions used here are big data, mobile phone GPS, history of credit card usage.
The rapid response to such a crisis can be considered to be the outcome of joint investment and development of ICT between the public and the private sectors that have been performed over a long period of time, and several figures prove Seoul’s innovation index.
As of 2019, Korea has already commercialized 5G network, a high-speed communication network, and 95% of the people are using smartphones. Excellent human infrastructure (the ratio of college graduates aged between 25 to 34 is 70%, ranking first among the top five OECED countries) is an essential resource for innovative future of Seoul. Seoul currently has 8,800 start-up companies, 90 accelerators, and 9 unicorn companies (a total of 11 in Korea). In addition to this, Seoul is planning to focus on fostering start-up companies with an innovative growth fund worth $1 trillion over the next 5 years. Invest Seoul Center is responsible for playing a role as a gateway and bridge for domestic start-ups to advance into overseas markets and to support overseas companies to enter Seoul.
Invest Seoul Center is an institution that promotes foreign investment in Seoul, established by the Seoul Metropolitan City and operated by Seoul Business Agency. It strives to create good job opportunities followed by quantitative and qualitative growth of industries and companies by promoting the investment environment of Seoul to attract leading global companies and discovering promising companies of Seoul by establishing financial and strategic alliances with global companies.
Invest Seoul Center will hold Seoul Hall with 20 start-up companies of Seoul at the Information and Communication Exhibition in Singapore (ConnecTech Asia 2020) to present the innovative city of Seoul to investors around the world and introduce the competitive technologies and products of the start-ups.
For more information about the Seoul Center and investment status of Seoul Metropolitan City, please visit, www.investseoul.org. Those investors looking for future value in Seoul will have to hurry up as just like buying a ticket for K-pop star’s concerts. As a city full of innovation, passion, dedication and opportunities, Seoul is waiting for you