Minister Park Young-sun: "In the Post-Corona Era, the Platform Economy Will Shift to the Protocol Economy" (Comprehensive)

114 Domestic and International Startup Experts Participate
Online Lectures on K-Quarantine, Artificial Intelligence, and More

[Asia Economy Reporter Kim Heeyoon] "The post-COVID-19 era is an online and contactless era, and as the platform economy transitions into a protocol economy, startups that leverage this as a new opportunity will lead the future."

Park Young-sun, Minister of SMEs and Startups, stated this on the 19th at the opening ceremony of 'ComeUp2020' held at the CJ ENM Production Center in Ilsan, Goyang-si, Gyeonggi-do.

ComeUp 2020, co-hosted by the Ministry of SMEs and Startups and the private organizing committee, began its three-day schedule with startups from 89 countries around the world participating.

President Moon Jae-in, in a video congratulatory message, said, "Based on the confidence gained through K-quarantine, ComeUp2020, which attracted a large number of startups, venture companies, and investors from around the world, has become a global startup festival," adding, "With the power of startups and venture companies, we will join hands with young entrepreneurs worldwide to lead the post-COVID era so that great ideas can finally shine like stars in the sky of infinite possibilities."

ComeUp, now in its second year following last year, has rapidly emerged as one of the world's four major startup festivals alongside Slush (Finland) and TechCrunch (USA). This year, 114 famous startup figures are participating, including 36 overseas speakers. Due to the spread of COVID-19, the event was planned from the outset as an online and contactless-centered event.

The highlight of this year's ComeUp is the 'ComeUp Stars Investment Presentation (IR),' which provides startups with promotional opportunities to global investors. A total of 1,076 startups from 89 countries applied, recording a competition rate of 9 to 1.

Key Speakers of ComeUp 2020. Photo by ComeUp 2020 Official Website

The academic conference, held under the main theme "Meeting the Future After COVID-19," is composed of three major topics: social systems, work environments, and lifestyles, and a total of 12 fields including K-quarantine, remote work, and artificial intelligence (AI).

On the first day, the 19th, Kim Seul-ah, CEO of Kurly and chairperson of the ComeUp2020 private organizing committee, delivered the keynote speech titled "Fresh Ideas to Cope with COVID-19," presenting a message that inspires startups worldwide.

In her keynote, CEO Kim emphasized, "Our lives changed due to COVID-19, facing transformation, and amidst these changes and crises, numerous startups have emerged creating opportunities with new ideas," highlighting "Seegene's 'COVID-19 Diagnostic Kit,' MediHere’s 'Video Call Remote Medical Service,' Classting’s 'Interactive Online Education Platform,' and Kurly’s 'Dawn Delivery Service' are examples of startups leading changes in the world and growing rapidly based on new ideas." She added, "I hope all of us who take on challenges turn the COVID-19 crisis into an opportunity."

Kim Jin-yong, Head of Infectious Diseases at Incheon Medical Center, participated in the discussion. Photo by Kim Hee-yoon

Cheon Jong-yoon, CEO of Seegene, a leading company in diagnostic kits that has become a model case of K-quarantine, will also appear as a speaker. Kim Jin-yong, an infectious disease specialist at Incheon Medical Center who devised the drive-through COVID-19 testing method, will explain the direction of epidemic response and the background of the drive-through planning during a discussion.

On the second day (20th), lectures on remote work, manufacturing, and AI will be held under the theme of the greatly changed "work environment" due to COVID-19. Professor Kim Jeong-sang of Duke University, USA, co-founder and CTO of IonQ, will speak about "The Present of Quantum Computing and the Future Changes It Will Bring." Additionally, Henry Chesbrough, a world-renowned authority in open innovation from UC Berkeley, and Gary Ball, a prominent figure in remote work from Singularity University, USA, will engage in an in-depth discussion on the changing work environment.

On the final day (21st), Lee Sung-soo, CEO of SM Entertainment, Park Tae-hoon, CEO of Watcha, and Betty Vandenbosch, CEO of Coursera, will speak on innovation strategies in the fields of entertainment, distribution, and commerce.

Seven special events held alongside ComeUp also attract attention. The contactless youth startup idea competition 'CheongjeongCon Final Pitching,' held on the 19th, targets prospective entrepreneurs under 29 years old and evaluates startup items in six contactless fields including education, smart healthcare, and entertainment, providing mentoring from senior entrepreneurs and business commercialization support from the Ministry of SMEs and Startups.

Minister Park Young-sun of the Ministry of SMEs and Startups said, "The Korean economy has rapidly rebounded by turning the COVID-19 crisis into an opportunity thanks to the activities of innovative ventures and startups. In the digital economy era, the challenging spirit of startups and international solidarity and cooperation will lead a new economic order," adding, "Furthermore, as big data and artificial intelligence rapidly emerge as core technologies, we will provide policy support for startups to leap to unicorn status by creatively utilizing these technologies."

She continued, "I hope ComeUp2020 will create a meaningful opportunity for startups worldwide to share insights about the post-COVID future and turn crises into opportunities."

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