The Grand Prize of the Jeong Ju-young Startup Competition Goes to 'Payap'

Asan Nanum Foundation Successfully Concludes Online Demo Day of Jeong Ju-young Startup Competition

9th Jeong Ju-young Startup Competition Demo Day

[Asia Economy Reporter Kim Cheol-hyun] Asan Nanum Foundation (Chairman Han Jeong-hwa) announced on the 28th that it has concluded the six-month journey that began last March with the demo day of the '9th Chung Ju-yung Startup Competition.'

The demo day was held online via live streaming on the Asan Nanum Foundation YouTube channel and others from 2:00 PM to 5:30 PM on the 27th, lasting about three and a half hours. During the demo day, business presentations were made by 11 teams that advanced to the business execution stage, overcoming a competition rate of 110 to 1.

The grand prize went to the startup 'Payap,' which operates an online commerce platform linked to targeted messenger services for Vietnamese Facebook sellers. During the business execution period, Payap showed steady growth by discussing business strategies and developing its business model with Kim Young-duk, Executive Director of Lotte Accelerator, who participated as a mentor.

The excellence awards were given to 'Medipal' and 'Argos,' while the merit awards went to 'Blueviker,' 'Jinjihan Company,' and 'Cormina.' The main awards were presented to 'Dr. Tail,' 'Curio Studio,' 'Craving Collector,' 'Team Island,' and 'Hayan AI.' The Korea Creative Content Agency Special Award, sponsored by the Korea Creative Content Agency, was awarded to 'Cormina.'

Payap, the grand prize winner, received 50 million KRW, and the excellence award teams each received 20 million KRW. The three merit award teams were awarded 10 million KRW each, the five main award teams received 5 million KRW each, and the Korea Creative Content Agency Special Award team was granted 10 million KRW. All award-winning teams will be eligible for support from the Asan Nanum Foundation when expanding overseas in the future, and they will also enjoy various benefits provided equally, including promotional marketing support, IT service provision, and venture capital investor recommendations offered to resident companies at the foundation’s startup support center, Maru180.

Han Jeong-hwa, Chairman of the Asan Nanum Foundation, said, "The 11 teams that advanced to the demo day by overcoming a competition rate of 110 to 1 gave each other healthy stimulation through the Chung Ju-yung Startup Competition, known as the gateway to the startup ecosystem, invigorating the entire ecosystem."

This content was produced with the assistance of AI translation services.