From manufacturing heavyweight to startup nation 

THE global phenomenon of K-pop and the “Hallyu” wave have propelled South Korea into the spotlight in recent years. For those following the Asian Tiger’s economic development, this success is a continuation of a well-established narrative. South Korea is a nation that consistently punches above its weight, having cultivated a long and impressive pedigree of world-class companies in sectors ranging from heavy manufacturing and information technology to most recently, showbiz and entertainment.

The rise of the South Korean startup ecosystem is a natural progression of this economic history.

Breeding ground for entrepreneurial dynamism

South Korea’s emergence as a global innovation hub is rooted in a storied entrepreneurial tradition. Emerging from the ashes of the Korean War, the nation embarked on a path of rapid industrialisation and export-oriented economic policy. This strategy has spurred the private market and led to the birth of iconic enterprises that are now household names – global industry giants such as Samsung, Hyundai, LG and SK.