South Korea is a dynamic startup hub, with Seoul serving as the nation’s center for innovation. Venture capital investments in South Korea grew by 9.5% year-over-year in 2024, reaching $8.95 billion. This rise, bucking global trends, highlights the country’s dedication to promoting innovation.
The Seoul Metropolitan Government is actively boosting the city’s startup infrastructure by launching the Seoul Startup Hub Scale-up Center for investment exchange, as well as planning the Seoul Unicorn Startup Hub to foster 50 unicorns by 2030, and ten global support centers by 2026.
Liner, an AI search startup, raised approximately $19.8 million in Series B2 funding, bringing its total investment to around $32.3 million. Proptech company ZigBang secured around $77 million in Series E funding, boosting its valuation to approximately $1.8 billion.
Held in August 2024, the Biologics Manufacturing Korea conference brought together global leaders to showcase breakthroughs in AI, automation, biosimilars, and supply chain excellence within the biologics manufacturing sector.
In December 2024, Seoul Business Agency broadened the range of Seoul Awards products to showcase Seoul's lifestyle to global consumers, aiming to enhance the international reach of Seoul-based brands. Seoul also hosted the Foster Bridge Summit, bringing together global leaders in startup investment and innovation to strengthen cross-border collaboration and promote startup growth.
SBA hosted its largest-ever Seoul Pavilion at the Consumer Electronics Show in Las Vegas in January, aiming to strengthen global networking and highlight Seoul's technological innovations.
