It is reported that Fugui, Science and Technology Counselor of the Chinese Embassy in South Korea, Hong Guimei, Deputy Director of the China International Youth Exchange Center, Wang Ning, Chairman of the China Electronics Chamber of Commerce, Chairman of the Korean Industrial Resources and Trade Small and Medium Venture Capital Enterprise, Member of Parliament Hong Ripyo, and Korean Small and Medium Venture Trade Representatives from China and South Korea including Song Zaixi, President of the Association, Li Shangyun, representative of KIC China, as well as heads of 93 entrepreneurial organizations from China and 20 Korean innovative technology institutions attended the meeting. Participants discussed the technological innovation, industrial cooperation and exchanges of start-up technology enterprises between China and South Korea.
Wang Ning, president of the China Electronics Chamber of Commerce, said at the forum that China’s start-ups have a third path to be acquired by large companies or to accept investment and technology stocks at the initial stage. Without innovative technology, SMEs will not be able to survive, so we are actively working to provide a suitable living environment for SMEs.
In response to the recent open innovation trend of cooperation between large and SMEs in South Korea, Zhu Yongfan, representative of the Incheon Creative Economy Innovation Center, said that in the past, Korean start-ups were unwilling to approach large companies because of fear of technology being robbed or plagiarized. With the establishment of the Creative Economy Innovation Center, large companies and start-ups have been connected to eliminate such problems. There are also more cases of large companies investing in or acquiring start-ups.
Pan Wen, deputy director of the International Liaison Committee of the China Business Federation, suggested that Chinese companies are gradually surpassing the electronics industry and automobile manufacturing where South Korean companies were leading in the past. At the same time, Chinese companies themselves are constantly filling the gaps in the market. To enter the Chinese market, one should look for blank spots in the industry for layout.
When asked how to evaluate Korean start-ups that are preparing to enter China, Nie Lixia, general manager of Beijing Zhongguancun Chuangye Avenue Technology Service Co., Ltd., said that Korean companies are indeed competitive in terms of technology. The pace of advancement in organizational business models is relatively slow. In order to solve the speed of localized operations in China, it is best to cooperate with Chinese companies and entrepreneurial industries to learn how to commercialize and market technologies. On the day of
, 13 Chinese and South Korean institutions participating in the forum jointly established an exchange and cooperation platform and held the signing ceremony of the China-Korea Innovation and Entrepreneurship Cooperation Memorandum. In addition, relevant persons in charge of China and South Korea also discussed cooperation intentions on hot areas such as AI, ICT and blockchain. Hong Guimei, deputy director of the China International Youth Exchange Center, said: “China and South Korea are both located in Northeast Asia. They are geographically similar and culturally connected. China and South Korea have complementary and cooperation potentials in many industrial fields. We hope to strengthen China through this forum. South Korea’s youths cooperate in scientific and technological innovation and business creation to help the economic development of China and South Korea."
"Among the Chinese people participating in this forum, there are many young entrepreneurs and start-up representatives recommended by the China International Youth Exchange Center and Beijing Zhongguancun Chuangye Street Technology Service Co., Ltd. This is very representative," said Li Shangyun, representative of KIC China. I hope to take this as an opportunity to deepen the exchange of ideas and concepts on innovation and entrepreneurship between China and South Korea, and inject vitality into the economic cooperation between the two countries.
According to reports, the Global Innovation Center of the Ministry of Science, Technology, Information and Communication of Korea is a non-profit organization operated by the Korean government’s fiscal budget and has four innovation centers around the world. Among them, the Korea Innovation Center in China was established in Beijing in June 2016. KIC provides Korean entrepreneurs and prospective entrepreneurs with pre-enterprise services and the infrastructure required for entrepreneurship. Starting this year, KIC will provide free online venture capital platform services for Korean companies preparing to enter China.
