POSCO International and Seoul National University Technology Holdings Join Hands to Support Startup Overseas Expansion

Agreement Signed on the 21st for Startup Overseas Business Expansion Cooperation

[Asia Economy Reporter Kim Ji-hee] POSCO International is collaborating with Seoul National University Technology Holdings to support domestic startups in expanding overseas. The company plans to build a win-win model with startups possessing excellent technological capabilities and discover promising startups to support their growth into global unicorn companies.

On the 21st, POSCO International signed a "Business Agreement for Overseas Expansion of Startups" with Seoul National University Technology Holdings at the Hoam Faculty House of Seoul National University. Attendees included Ju Si-bo, CEO of POSCO International; Mok Seung-hwan, CEO of Seoul National University Technology Holdings; Professor Park Hee-jae of the Department of Mechanical and Aerospace Engineering at Seoul National University; and Gu Kyung-ryong, Head of the Food Materials Division at POSCO International.

First, both parties plan to form a working council to provide systematic support for startup growth, including mentoring, step-by-step investment review, and assistance. In particular, POSCO International will leverage its global network and diverse business experience to offer various solutions to help commercialize startups' excellent technologies and ideas.

Seoul National University Technology Holdings, established in 2008, is the largest university technology holding company in Korea. It operates five funds totaling 50 billion KRW and is recognized for its expertise in startup investment and growth support. It is expected to demonstrate its accumulated capabilities in discovering startups and mentoring in the future.

Earlier, POSCO, the parent company of POSCO International, actively formed a 10 billion KRW fund with Seoul National University Technology Holdings in July to foster startups with high potential for patent technology realization and growth.

Ju Si-bo, CEO of POSCO International, said, "I hope today's agreement ceremony will serve as an opportunity to revitalize the startup ecosystem, which has been weakened by the prolonged COVID-19 pandemic." He added, "As a global integrated business company, we will continue to practice the 'corporate citizenship' philosophy by exploring various overseas expansion strategies suitable for startups and promoting mutual growth."

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