K-Startup Center Tokyo Opens as a Hub for Korea-Japan Startup Exchange

First Overseas Move for 'Support Measures for Globalization of Small and Venture Businesses'

The Ministry of SMEs and Startups announced on the 12th that it has opened the K-Startup Center (KSC) Tokyo, which will serve as a base for domestic startups entering Japan and a platform for interaction with the local Japanese startup ecosystem.

Considering the rapid growth of Japan's startup ecosystem and the increasing number of domestic startups wishing to enter the Japanese market, the KSC Tokyo has been established.

Oh Young-joo, Minister of SMEs and Startups (third from the right), is participating in a ceremony with officials at the opening ceremony of the K-Startup Center (KSC) Tokyo held on the 10th at the Cambridge Innovation Center (CIC) Tokyo, Japan. (Photo by Ministry of SMEs and Startups)

The opening ceremony of KSC Tokyo is the first overseas initiative following the 'Support Measures for the Globalization of SMEs and Startups' announced on May 8. In this policy, the focus was expanded from export support to global expansion support, and it was announced that the functions of KSC, a startup overseas base, would be enhanced. Consequently, KSC was newly established in Tokyo, Japan, where demand for Korean companies' market entry has recently increased.

KSC operates in a total of five locations: Seattle in the United States, Paris in France, Singapore, Hanoi in Vietnam, and Tokyo in Japan. Going forward, KSC plans to continuously expand to major hub regions with high demand for domestic startups' overseas expansion.

Meanwhile, KSC Tokyo held its opening ceremony on the 10th at CIC Tokyo, a startup innovation campus in the form of a shared office located in eight cities worldwide.

The event was attended by about 70 people, including Kang Myung-il, Minister-Counselor at the Embassy of the Republic of Korea in Japan; Umezawa Takaaki, Chairman of CIC Japan; as well as representatives from KOTRA, Korea International Trade Association, Korea Tourism Organization, Export-Import Bank of Korea, Korea Creative Content Agency, Korea Electric Power Corporation, Korea Trade Insurance Corporation, Small and Medium Business Infrastructure Organization, Japan External Trade Organization (Jetro), Shinhan Japan Bank, Fujitsu Ventures, and other local support organizations and venture capital (VC) stakeholders.

On the following day, the 11th, a follow-up event was held: a luncheon meeting with KSC Tokyo resident companies and successful companies that have entered the Japanese market.

At the luncheon meeting, KSC resident companies such as Checker, successful Japanese market entrants like Dr. Now, Obis, and Channel Corporation, along with local startup experts from Shinhan Future’s Lab Japan and Jetro, participated to share their understanding of the Japanese market and exchange experiences and know-how regarding market entry. Experts and successful companies on-site also provided immediate solutions to difficulties and suggestions encountered during the market entry process.

On this day, Oh Young-joo, Minister of the Ministry of SMEs and Startups, emphasized to the attending startups, “We will proactively identify the difficulties Korean startups face during their entry into the Japanese market and, through communication with the industry, do our utmost to support our companies so that their activities in Japan can achieve successful results.”

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