Ministry of SMEs and Startups Hosts Korea-France Startup Day... 'Supporting Startups' Entry into Europe'

Cedric O, French Digital Minister, and French Startup Delegation Attend
Sharing Future Vision Between Innovative Startup Companies of Both Countries

Minister Kwon Chil-seung of the Ministry of SMEs and Startups (first from the left) and C?dric O, French Secretary of State for Digital Affairs (fourth from the left), are congratulating Kim Yong-moon, President of the Korea Institute of Startup & Entrepreneurship Development (second from the left), and Philippe Lefort, French Ambassador to Korea (third from the left), on signing a mutual entry business agreement for Korea-France startups at the 'Korea-France Startup Day' held on the 17th at Tipstown in Gangnam-gu, Seoul. Photo by Ministry of SMEs and Startups

[Asia Economy Reporter Kim Heeyoon] The Ministry of SMEs and Startups announced on the 17th that it held the ‘Korea-France Startup Day,’ an exchange event between a French startup delegation and Korean startups aspiring to enter the European market.

The event was attended by C?dric O, Secretary of State for Digital and Telecommunications at the French Ministry of Economy and Finance, 11 companies from the French startup delegation, Philippe Lefort, Ambassador of France to Korea, Kwon Chil-seung, Minister of SMEs and Startups, Kim Yong-moon, President of the Korea Institute of Startup & Entrepreneurship Development, Ko Young-ha, Chairman of the Angel Investment Association, and 11 Tipstown resident startups seeking exchanges with France.

This event was promoted following Minister C?dric O’s proposal to dispatch startups during his visit to Korea on June 25, and Minister Kwon’s expression of invitation linked to the ComeUp event.

Since President Macron’s administration, France has been promoting the startup nurturing policy ‘La French Tech’ and established ‘Station F,’ home to over 1,000 global startups. Through this, France became a European startup powerhouse, attracting a record investment of 5.4 billion euros last year and producing 21 unicorns as of October.

The French startup delegation visiting Korea this time consisted of 11 companies in the fields of artificial intelligence, e-commerce, software, information security, audio devices, and food tech. Many companies with high growth potential participated, including three unicorns that have attracted investments exceeding 100 billion won.

At the event, Noh Yong-seok, Director of Startup Promotion Policy at the Ministry of SMEs and Startups, explained the operational direction of the ‘Korea Startup Center Paris,’ scheduled to open in Paris in the first half of next year, to companies from both countries. Startups from France and Korea introduced their companies and expressed their expectations for entering each other’s markets in front of the ministers of both countries.

Additionally, both sides agreed to dispatch an innovation expert from Expertise France, a French public institution, to the Korea Institute of Startup & Entrepreneurship Development next year.

Minister Kwon Chil-seung of the Ministry of SMEs and Startups said, "France and Korea are long-standing cultural powers of the East and West, and have high potential for cooperation not only in cultural content but also in advanced technology fields such as artificial intelligence, future vehicles, and renewable energy." He added, "We will fully support the Korea Startup Center, opening in Paris next year, to be a solid base for open innovation between the startup ecosystems of both countries, where startups from both nations can grow together."

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