Korea Startup Forum Officially Launches "Defense Industry Council"

MakinaRocks and BonAI Named as Inaugural Co-Chairs

The Korea Startup Forum (KOSPO) announced on May 14 that it will officially launch the "Defense Industry Council" (the Council), a consultative body aimed at exploring the future of artificial intelligence transformation (AX) in the defense sector, fostering the defense industry, and strengthening its competitiveness.

This launch comes at a time when the government's strategy to foster the defense industry has begun in earnest, leading to a rapid increase in demand to incorporate innovative technologies from startups into the defense sector. As a result, the need for an official representative channel connecting the private sector and government has grown. The expansion of collaboration opportunities between startups and existing large corporations in the traditionally conglomerate-centered defense industry ecosystem also served as a background for the Council's launch.

According to KOSPO, since the end of last year, there have been ongoing requests from the government and relevant ministries for lists of innovative companies in the defense sector and for cooperation. By the beginning of this year, the industry had reached a consensus that fragmented discussions at the level of individual companies needed to be consolidated. KOSPO began earnest discussions on forming the Council around February and March of this year, leading to its official launch.

Logos of participating companies in the Korea Startup Forum Defense Industry Council. Korea Startup Forum

Eighteen companies will participate in the Council: DeepMaze AI, MakinaRocks, Morph Systems, BonAI, ViewRun Technology, Saltlux, Aceta, Ellis Group, UjuroTech, WeWinners, WeFlow, Exceed Tech, Seedronics, YoYo Interactive, PebbleUs, Prairiescanner, SIA Co., Ltd., and Twelve Labs.

The Council plans to focus on policy recommendations for regulatory reform that hinders the growth of defense startups and on innovating the national defense procurement system. It will also pursue multifaceted support to enable startups to become key players in the defense industry ecosystem, including attracting investment specialized in defense, establishing a bridgehead for entering the global defense market, and creating proof-of-concept (PoC) opportunities.

The inaugural co-chairs of the Council will be Seongho Yoon, CEO of MakinaRocks, a company specializing in manufacturing and defense-focused physical AI, and Dokyung Lee, CEO of BonAI, a physical AI systems company.

A KOSPO representative stated, "Going forward, KOSPO will continue to represent the voices of startups with innovative defense technologies and build a systematic communication framework with the government and related organizations."

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