KCC Actively Supports Startups to Discover Future Growth Engines

Seoul Creative Economy Innovation Center Signs MOU to Support Startups and Revitalize the Startup Ecosystem

Lee Woong-no, Head of KCC Business Strategy Division (left), and Hwang Yoon-kyung, Director of Seoul Creative Economy Innovation Center, are signing a business agreement and taking a commemorative photo.
[Photo by KCC]

[Asia Economy Reporter Kim Jong-hwa] KCC announced on the 19th that it will promote an open innovation program to build a win-win cooperation network between large corporations and startups in collaboration with the Seoul Creative Economy Innovation Center.

On the 18th, KCC signed a Memorandum of Understanding (MOU) with the Seoul Creative Economy Innovation Center for "Startup Support and Activation of the Startup Ecosystem" at the main conference room of its headquarters located in Seocho-gu, Seoul. The signing ceremony was attended by KCC's Head of Management Strategy Division Lee Woong-no and Seoul Creative Economy Innovation Center Director Hwang Yoon-kyung.

Starting with the signing of the MOU, both parties plan to design and implement various collaborative programs such as exchanging information on domestic startups, discovering and commercializing outstanding startups, and jointly developing technologies. In particular, by actively operating the open innovation program, they intend to establish a win-win cooperation structure within the domestic startup ecosystem.

KCC plans to recruit startups to participate in open innovation in its core business areas including building materials and coatings, as well as in fields such as eco-friendly technologies, future energy, and new materials. Open innovation is a scale-up program that matches technology-demanding companies (large and medium-sized enterprises) needing fresh ideas and technologies with startups seeking a foothold for business expansion, supporting business linkage and collaboration.

The strategy is to discover future growth engines through collaboration with promising startups and actively promote open innovation, linking the startups' technologies and ideas with KCC's business capabilities to provide new value to customers in the market.

A KCC official stated, "In this era of accelerating open innovation and convergence, it is an important time for companies with high growth potential to come together and share wisdom," adding, "We hope many startup companies will participate to discover good collaboration cases through open innovation cooperation and create new value together."

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