Participants such as Kang Seong-cheon, Vice Minister of Small and Medium Venture Business, taking commemorative photos at the graduation ceremony of the Global Entrepreneurship Academy held at Nodeul Island Multipurpose Hall in Seoul on the 19th. (Photo by the Ministry of SMEs and Startups)
South Korea’s startup ecosystem expanded and helped in employment generation in 2020 despite the COVID-19 pandemic, as per a report by the Ministry of SMEs and Startups. The Ministry announced the analyzed trends of employment and venture company investments on Friday as it felicitated 60 startup teams that graduated from the first Global Startup/ Entrepreneurship Academy program held in 2020.
The graduation ceremony of 60 teams of startup companies of the 1st Global Startup Academy was held at Nodeul Island Multipurpose Hall Forest in Yongsan-gu, Seoul. The Global Entrepreneurship Academy is a program newly established by the Ministry of Commerce in August 2020 to foster innovative startups that lead the global market.
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The Global Entrepreneurship Academy is designed to provide new methods and forms of education programs suitable for the 4th Industrial Revolution era. The project aims to transfer the technical know-how of global conglomerates and experts at home and abroad to startup companies in the field of innovative technology. The program also provides support for accelerating global startup plans and overseas networking, and acquiring commercial funds. Since its establishment in August of last year, 60 startup companies have participated in the ‘Global Startup Academy’, creating sales of 8.4 billion won, generating new jobs for 144 people, and attracting follow-up investment of 5.9 billion won in five months.
The program has been supported by four global conglomerates, including Amazon Web Services (AWS), NVIDIA (NVIDIA), Microsoft (MS), Google Cloud (Google Cloud), and five world-class startup incubators, including Techstars, 500 Startups, SOSV, Plug & Play, and Startupbootcamp. At the event held non-face-to-face, AI-startup’ Deep Insight’ Co., Ltd. received the best grades in the comprehensive evaluation such as business excellence, sales, and employment, and ‘Data Republic’ Co., Ltd. won the IR session competition.
Talking about the success of the Korean startup ecosystem, Vice Minister Kang Seong-cheon said at the event, “Last year, even in the midst of the Corona crisis, venture investment reached an all-time high of 4.3 trillion won, and innovative companies took responsibility for a total of 724, 000 jobs, opening the second era of venture boom.” He said, “We will continue to support the growth of startup companies by creating a stronger startup venture ecosystem in the future.”
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The Ministry also announced the recruitment for the second batch of 40 startup teams that started on February 17th to March 17th, 2021. If you are a startup company with less than 3 years of business that works in field of data, network, and Artificial Intelligence, you can check for more information on the site www.k-startup.go.kr.
Previous Post Korean startups that are finding success on foreign shores Next Post News in Brief from South Korea: Startups, business, economy, finance, technology & moreFinding jobs in Korea can be difficult for foreigners living in Korea. The coronavirus has not helped matters not just for foreigners living in Korea but all Koreans. South Korea’s unemployment rate (4.0%) hasn’t been this high since 2010. However, this number has been calculated in a conservative way as the Korean government still regards most non-regular workers (temporary/independent contractors/freelancers) as employed.
2023 newly elected President Yoon Suk Yeol plans to grow South Korea’s economy by relaxing corporate regulations while supporting entrepreneurship. He aims to shift the focus of South Korea’s economy towards the private sector to create more jobs and strengthen the middle class. However, the main cause of unemployment is that many businesses are shutting down due to government mandates. Many have already noticed a sharp decline in job postings on many Korean job platforms.
Seoul, South Korea
Thankfully, there are a number of Korean tech startups that help with finding a job in Korea. There are also startups in Korea that are focused on building skills to help people get hired in Korea.
A tech startup in Korea Wanted is great for finding jobs in Korea. It is Asia’s first referral-based job platform. Their site allows users to refer their friends and earn cash rewards if they are hired for at least 3 months. Furthermore, Wanted helps connect users to companies not just in Korea but also in Singapore, Taiwan, Hong Kong, and Japan. Therefore, Wanted is not just a web job portal but also has a mobile app. The amount of cash given is based on the seniority of the job position. In addition, Wanted works with over 3, 000 businesses mostly related to tech. Many tech startups in Korea, as well as more established tech companies in Korea, use Wanted to hire tech talent.
Wanted makes money by charging companies a 7% cut of the candidate’s annual salary. If the candidate does not last the full three months then Wanted to refund 80% of the commission fee to the company. If you make a profile on Wanted you will receive personalized job recommendations. Furthermore applying for jobs in Korea is easy with their one-click application function. We recommend joining their MatchUp Service which will allow you to get invitations for interviews. It uses AI technology to match your resume with startups in Korea that closely match your skills. Many of the big Korean startups like Coupang, TOSS, NAVER, and others frequently list job postings on WANTED. In addition, the Wanted App is free to use and download.
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The Korea Professional Platform is a great place to find great companies and career opportunities in Korea. They offer a job board that is constantly updated with the latest non-teaching job openings. The KP Platform does the work of screening and analyzing the entire Korean job market and delivering the company’s information to you. They have the largest collection of information regarding global companies in Korea. In addition, they are creating a foreign community to communicate on a professional level in Korea. Job seekers, startup entrepreneurs, freelancers, employees, and even students can join the platform’s forum to learn, share, and connect.
Korea Professional is also in the process of creating a wide range of services for foreigners in Korea to support them with services such as legal advice and mentoring. In addition, Korea Professional plans to hold face-to-face networking events towards the end of 2021. This will give foreigners living in Korea a great opportunity to connect with local companies that are willing to work with English-speaking professionals.
One of the major benefits of Korea Professional is access to a direct mail address of HR or the management department for companies you might be interested in. All information is verified and in compliance with data privacy protection regulations. Foreigners looking for work in Korea need to use Korea Professional. Just go on their platform and find the company you would like to work for. Access their profile information and get the email or contact for their HR department. As you can see, this is not necessarily a job board. Korea Professional screens and tracks job offers in Korea in English. They provide you with the information to point you in the right direction.
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Through the KP platform, you will be able to find hundreds of companies to contact and everything will be in English. However, KP also offers a paperback book that has some of the top companies recruiting foreigners in Korea. In addition, it offers insights from industry experts working in Korea. Those looking to enter the job market in Korea should give this Employment Guide in Korea a try.
Hirediveristy targets foreigners in South Korea looking to work for Korean companies. Job boards in Korea do not offer an engaging user experience for foreigners who do not understand Korean. Hirediversity was created by Sungkyungkwan University Graduate students to bridge the gap between Korean companies and qualified job seekers in Korea. While most come to Korea to teach English, Hirediveristy offers non-teaching jobs from Korean companies that want more diversity on their team. Positions on Hirediversity are sorted based on Korean fluency. Whatever stage a learner is, Hirediversity has positions available. With a growing foreign population in Korea, there is a hungry market for this service.
This is a great platform for international students seeking jobs in South Korea. They offer guidance in regards to not only finding jobs but also advice on visas and labor relations in Korea. They have already helped over 500 international students find jobs in Korean companies. In addition, they have carried out campaigns with over 200 Korean companies to hire international talent. Their aim is to simplify the process with IT technology and the data they collect.
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Rocket Punch is Korea’s largest business network. Users can create their own profiles and meet experts from different fields, including developers, designers, and even investors. The site has over 45, 000 companies and startups with new job postings uploaded daily. However, the key benefit is that Rocket Punch has a network of over 150, 000 business professionals in Korea. Therefore it is a great place to find business-related information to grow your
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