Busan Job Creation Social Cooperative to Nurture Korea-China 'IT Saessak Companies'

MOU for Hosting the Korea-China International Innovation Start-Up Center and ‘IT Start-Up Center’ in Busan

‘Seed companies’ in the IT sector from Korea and China are collaborating to build platforms and create jobs.

Busan Job Creation Social Cooperative (Chairman Seong Suyong) announced on the 20th that it signed an MOU with the Korea-China International Innovation Start-Up Center (CEO Kim Hakbong) at the Busan Eurasia Platform on the 19th to establish the ‘Korea-China IT Start-Up Center.’

The Korea-China International Innovation Start-Up Center in Harbin, China, is building a global accelerator hub based on Korea-China cooperation and laying the groundwork for Korean companies to enter the Chinese market. It also pursues stable settlement and growth in the Chinese market through its network within China. It serves as a global technology commercialization specialist company playing various roles to support Korean start-ups entering China.

In June last year, the center completed the Harbin Binxian Korea-China High-Tech Valley, a 50,000㎡ facility in the Binxian National Development Zone of Harbin City, and is currently operating a specialized enterprise support center and shared production space.

The two organizations established the ‘Korea-China IT Start-Up Center’ in Busan to discover and nurture IT start-ups between Korea and China. They are conducting a one-stop support project from incubating emerging innovative companies leading the 4th Industrial Revolution to stable entry into the Chinese market.

On the 19th, an MOU signing ceremony was held for the establishment of the 'Korea-China IT Start-Up Center'.

This MOU was signed to establish practical mutual cooperation between the two organizations.

Both parties operate investment attraction mentor groups and technology and management mentor groups to support innovative companies. They also seek efficient and practical accelerator operation plans by utilizing the global network of the Korea-China International Innovation Start-Up Center to promote overseas expansion.

In particular, they plan to propose solutions to severe employment stagnation caused by rapid technological advancements and social structural changes such as the 4th Industrial Revolution. They will also build a job creation cooperation system by designing a comprehensive start-up platform based on new technologies for both young and middle-aged groups.

Seong Suyong, Chairman of Busan Job Creation Social Cooperative, said, “We will provide space and operational systems for discovering and nurturing IT start-ups, and the Korea-China International Innovation Start-Up Center will participate in joint operations by providing know-how for discovering and nurturing IT companies.”

He added, “This MOU has great significance in establishing a sustainable international foundation for the IT ecosystem that will promote the 4th Industrial Revolution.”

Chairman Seong stated, “We will expand the international start-up ecosystem base in the Busan area and broaden the economic activity foundation for youth and innovative entrepreneurs by discovering and nurturing IT start-ups that will lead the future digital economy.”

One attendee on the day evaluated, “By establishing an IT industry start-up belt between Korea and China, a potential international market is provided, laying the groundwork for start-up companies from both countries to grow diversely.”

Busan Job Creation Social Cooperative supports education and consulting for start-ups and employment targeting socially and economically disadvantaged groups in the Busan area. The cooperative was established in March 2015 with approval from the Ministry of Employment and Labor to contribute to national and economic development and to help sustainable economic activities, carrying out projects that provide a stable life framework for economically vulnerable groups.

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