POSCO Group, Truly Committed to Venture Discovery, Opens 'ChangeUpGround' in Silicon Valley

Expansion to the United States Following Pohang, Gwangyang, and Seoul

[Asia Economy Reporter Choi Seoyun] POSCO Holdings has opened an office at 'ChangeUpGround Silicon Valley' in Silicon Valley, USA.

At the opening ceremony held on the 10th (local time) at the San Jose office in Silicon Valley, USA, about 70 people attended, including Yoon Sangsoo, Consul General in San Francisco, representatives from the Korea Trade-Investment Promotion Agency, Korea Development Bank, Korea Venture Investment Corp., Samsung, SK, Hanwha, and other domestic investment institutions and large corporations, as well as Park Sungjin, Head of Industry-Academia-Research Cooperation at POSCO Holdings, Do Hanui, Head of POSCO America, and Lim Seunggyu, President of POSCO Technology Investment.

ChangeUpGround Silicon Valley is an expansion of the startup space ChangeUpGround, which POSCO Group operates in Pohang, Gwangyang, and Seoul to discover and nurture venture companies, into Silicon Valley, USA.

Park Sungjin, Head of Industry-Academia-Research Cooperation at POSCO Holdings, stated, "We will actively support connecting local partners and overseas expansion for domestic venture companies we nurture and invest in, thereby revitalizing a virtuous cycle global venture ecosystem that leads from startup-investment/nurturing-exit. We will provide maximum convenience, including offering office and meeting spaces free of charge to help early-stage businesses settle, and actively support venture companies to be listed on NASDAQ or grow into unicorn companies."

Earlier, POSCO Holdings signed the 'POSCO Group Nurturing and Investment Venture Global Value-Up Business Agreement' together with POSCO International, Born2Global, and 11 venture companies, agreeing to support excellent domestic venture companies nurtured and invested in by POSCO Group to pioneer overseas markets and attract investments from global investment institutions.

Under this agreement, POSCO Holdings will establish strategies for discovering and nurturing promising venture companies, and POSCO International will focus investment on global marketing for venture companies based on a 1.6 billion KRW win-win cooperation fund.

Additionally, Born2Global will support excellent venture companies to enter and grow in overseas markets by utilizing its platform. After the agreement, an IR session was held to introduce these venture companies to local venture capital firms in Silicon Valley.

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