Korean Start-Ups : Starting the New Wave
10 years ago, everyone on the street was doing a start-up, says Sean Park of Seoul Space . Like much of the world, after the tech bubble burst in the early 2000s, many Korean tech start-ups retreated from the market. But now Korea is experiencing a new resurgence in start-ups. I recently travelled to Seoul to scope out the start-up eco-system there. I was only there for a few days, I thought that the Korean tech start-up scene was still relatively nascent, but the right elements are starting to form. To better understand the position of Korean entrepreneurialism and the direction it is heading, I talked with a few locals about their perceptions. Conglomerates rule, start-ups are too risky Korea, an Asian Tiger economy has been one of the most impressive, fastest growing economies since the 1960s. Hit very hard during the Asian Financial Crisis of 1997, the country experienced a phoenix like rebirth to achieve the worlds 15th highest nominal GDP. Like its neighbour, Taiwan, much of this