Consulate General in San Francisco and KIC Host Tech Investment Outlook Forum

The Consulate General of the Republic of Korea in San Francisco and the Korea Investment Corporation (KIC) announced on the 17th that they held the Tech Investment Outlook forum in San Francisco, USA, on the afternoon of the 15th.

The forum was held under the theme of promising venture investment sectors and themes for the next 10 years. Partner-level investors from leading Silicon Valley venture capital firms such as NEA, General Catalyst, and Upfront, as well as Yoon Song-yi, Chief Strategy Officer (CSO) of NCSoft, participated as speakers.

About 200 people attended, including investment experts from domestic financial institutions such as venture-related investment institutions, asset management companies, and corporate venture capital (CVC) in Silicon Valley, as well as startup stakeholders from Korea and locally.

Yoon Sang-soo, Consul General of the Republic of Korea in San Francisco, said in his welcoming remarks, "This forum is a meaningful occasion where Korean and American investors and startups gather in Silicon Valley to discuss promising venture investment prospects for the next 10 years, marking the 70th anniversary of the Korea-US alliance." He added, "We hope this will be an opportunity to continuously explore cooperation plans for global international financial investment collaboration."

Yoon Song-yi, NCSoft CSO, stated in her presentation, "We are currently at the beginning stage of artificial intelligence (AI)," adding, "While the future development of humanity through AI is important, it is equally crucial to develop humane and ethical AI."

Mark Suster, CEO of Upfront, said, "With the emergence of Chat GPT last year, the public became aware of the power of AI," and added, "We have been investing in AI even before that, and we will continue to invest steadily at the intersection of AI and various industries."

Following this, Holly Maloney, CEO of General Catalyst, gave a presentation on the digital health industry, and Rick Yang, CEO of NEA, spoke on the outlook for the fintech and gaming industries.

Afterwards, the presenters held a discussion on the intersection of AI and various industrial sectors and also took time to answer questions from other attendees.

Yoon Sang-soo, Consul General of the Republic of Korea in San Francisco, said, "Listening to and discussing the outlooks of major Silicon Valley venture investors firsthand was a great opportunity for Korean startups and investment institutions to expand their connections with investors in the Silicon Valley area," adding, "We will continue to support the expansion of advanced technology and investment exchanges between Korea and the United States to foster an atmosphere where tangible results can spread."

Lee Kyung-sik, head of the KIC San Francisco office, said, "It was a meaningful occasion that helped with long-term investment perspectives by examining promising sectors from the viewpoint of top Silicon Valley experts," and added, "Going forward, KIC will continue to collaborate with the Consulate General to serve as a hub for Korean institutional investors in Silicon Valley."

Meanwhile, KIC began its first venture investment in 2017 and established the San Francisco office in March 2021 to expand direct investments in venture and startup companies.

The KIC San Francisco office held the 1st Silicon Valley International Financial Cooperation Council in September last year to build a bridge between domestic institutional investors who have entered the Silicon Valley market and the US VC and startup ecosystem. This forum was held concurrently with the 3rd Silicon Valley International Financial Cooperation Council.

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