POSCO Inter, Building Dream Team to Support Startups

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[Asia Economy Reporter Yoo Hyun-seok] POSCO International, which continues to foster win-win cooperation with small and medium venture enterprises, is joining hands with the Incheon Free Economic Zone Authority and Incheon Technopark to support startups in the Incheon area aspiring to expand globally.

POSCO International announced that on the 21st, it signed a "Memorandum of Understanding for Discovering and Nurturing Global Innovative Startups" at Incheon Startup Park together with the Incheon Free Economic Zone Authority and Incheon Technopark. This signifies the company's move beyond directly supporting small and medium ventures to forming a dream team with local government agencies and nonprofit foundations for more systematic support.

The Incheon Free Economic Zone Authority is an institution dedicated to developing the Incheon Free Economic Zone, focusing on specialized development in the three areas of Songdo, Yeongjong, and Cheongna.

Incheon Technopark is an organization that supports technological innovation and growth of small and medium enterprises in the Incheon region. Under its umbrella, Incheon Startup Park operates the nation’s first public-private partnership startup nurturing model and a platform supporting global expansion.

Through this MOU, POSCO International will support sales activities utilizing its global network, Incheon Technopark will be responsible for discovering and nurturing startups, and the Incheon Free Economic Zone Authority will provide financial support for global expansion.

Lee Yoo-chang, Head of the Corporate Citizenship Office at POSCO International, stated, “Through this MOU, we will assist startups that wish to enter the global market but lack global networks and know-how for expansion. By expanding our collaboration with Incheon Technopark, we will support more companies in the Incheon area to reach global markets.”

Jang Byung-hyun, Chief Planning and Coordination Officer of the Incheon Free Economic Zone Authority, said, “This agreement will give great momentum to the global expansion of startups discovered and nurtured at Incheon Startup Park,” adding, “We will devote our efforts to making Incheon Startup Park a mecca for global expansion.”

Following this agreement, a global expansion program jointly hosted by POSCO International and Incheon Startup Park is scheduled to be announced on the Incheon Startup Park website in May.

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