Gwangju City Signs AI Business Agreement with Pace Makers Co., Ltd. and Plan H Ventures Co., Ltd.

Mayor Lee Yong-seop: "We Will Actively Support to Ensure No Difficulties in Business Management"

On the afternoon of the 12th, Lee Yong-seop, Mayor of Gwangju Metropolitan City, signed a business agreement with Kim Kyung-rak, CEO of Faces Makers Co., Ltd., and Won Han-kyung, CEO of Plan H Ventures Co., Ltd., in the business room to establish a Gwangju-type artificial intelligence business foundation. Photo by Gwangju Metropolitan City.

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City is joining forces with Pace Makers Co., Ltd. and Plan H Ventures Co., Ltd. to create an investment ecosystem for the artificial intelligence industry in Gwangju.

On the 12th, at the city hall business room, Mayor Lee Yong-seop, Kim Kyung-rak, CEO of Pace Makers Co., Ltd., and Won Han-kyung, CEO of Plan H Ventures Co., Ltd., attended and signed the 90th to 91st “Business Agreement for the Creation of an Artificial Intelligence Industry Investment Ecosystem.”

For startup companies, securing funding and expert assistance before generating revenue after founding is crucial not only for survival but also for building growth momentum.

In particular, accelerators that nurture and fund early-stage startups and the private investment-led technology startup support program TIPS are highly necessary for AI startups in Gwangju. This business agreement is expected to greatly contribute to establishing Gwangju’s AI industry investment ecosystem.

Pace Makers Co., Ltd. has completed relocating its headquarters to Gwangju, and Plan H Ventures Co., Ltd. is promoting the establishment of a Gwangju branch. Both companies will actively cooperate in discovering promising AI companies, providing funding for early startups, and supporting TIPS investments to foster Gwangju’s AI industry investment ecosystem.

The main agreement contents include ▲ discovering and investing in promising AI-based startups ▲ selecting startups and matching private investment with government funds, supporting TIPS investment or selection cooperation to promote entrepreneurship of highly skilled technical personnel ▲ relocating headquarters or establishing branches to nurture startups ▲ operating specialized incubation programs and follow-up management programs for startups and utilizing incubation spaces owned by each institution ▲ mentoring, networking, and technical support using investors and experts.

Pace Makers Co., Ltd. is an accelerator that supports and invests in the growth of technology-based early-stage companies. Last year, it invested in 17 startups and helps early startups grow and expand globally through the EDGE program.

True to the company philosophy of “Pacemaker” (the leader setting the pace for the front group in a marathon race), it is building a startup ecosystem in collaboration with Korea’s top accelerator mentors.

Plan H Ventures Co., Ltd., funded by Hoban Construction, is a Ministry of SMEs and Startups-registered accelerator launched to actively invest in and nurture promising startups with innovative technologies for future growth. It is an early-stage investment firm specializing in open innovation leading industrial innovation.

Currently, as a verified TIPS operator by the Ministry of SMEs and Startups, it supports startup investment, research and development (R&D) project linkage, new technology verification, and market development.

Kim Kyung-rak, CEO of Pace Makers Co., Ltd., said, “We decided to relocate our headquarters to Gwangju, the mecca of AI convergence industry, to devote all our capabilities to discovering and attracting promising AI-based startups and nurturing unicorn companies. We are pleased to support and invest in rapidly growing early startups up close.”

Won Han-kyung, CEO of Plan H Ventures Co., Ltd., said, “Starting in Gwangju, we will do our best to carry on Hoban’s startup spirit, which has risen to the top 10 in the industry, and spread successful entrepreneurial spirit throughout the region.”

Mayor Lee Yong-seop said, “With Gwangju’s active policy support and the additional support of two professional accelerators, startups can gain momentum to grow into unicorn companies by enhancing their competitiveness and becoming global companies. The city will actively support and back startups and entrepreneurs operating businesses in Gwangju to ensure they face no difficulties.”

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