KOTRA Helsinki

Last week, to begin the busy (and slushy) Slush week, we had the honor of hosting K-Startup Demo Day at Maria01! It was a celebration of the Korean startup ecosystem and their efforts to explore Finland, as well as Finnish-Korean relations. The event was kicked off with remarks by His Excellency Mr. Jungha Kim, Ambassador of Korea in Finland and Mr. Jari Sinkari, Director General of the Department of Asia and Oceania of the Ministry for Foreign Affairs of Finland. The event was a collaborative effort between Vertical, KISED, KSC, KVCA, KOTRA, SBA and GSBA. We had a total of 24 Korean startups compete for a pitching slot, and saw 10 finalists pitching in front of the excited audience. 🏆 Congratulations to the participants on their hard work and well-delivered pitches, and special mention to the winners! Best overall pitch so hye Choi & CUBIG AI, best product-market-fit in Finland Dakyum (Dia) Kang & Alyce Health and most innovative solution Ha-Won Kim& SNPLab Inc.. 💬 Earlier in the afternoon, all the startups got to meet and greet local investors and ecosystem experts in casual roundtable discussions. Thank you Minbok Wi, INJE OH, Lee Samsik, Hyun Woo Kim, Changyeon Lee, Yujin Park, ARAM HAN, Dasom Lee, Jiyoun Hwang, Aino Heiska, Eero Toppinen, Dana Gamburg, Jason Hill, Havu Media Special thanks to the illustrious jury: Sofia Lund, Ellen Högnäs, Christian Lindholm, Fabian Sepulveda With KISED (Korea Institute of Startup & Entrepreneurship Development), Korean Venture Capital Association, KOTRA, KOTRA Helsinki, GBSA 경기도경제과학진흥원, Ministry of Foreign Affairs, Republic of Korea

✨K-Startups Shine Bright at SLUSH 2024 in Helsinki! 🇰🇷 🇫🇮 KOTRA Helsinki is proud to support 13 innovative Korean startups at one of the world’s leading startup and tech events. These companies are showcasing cutting-edge solutions across diverse industries, from AI and sustainability to healthcare and more. At SLUSH, we’re connecting Korea’s brightest entrepreneurs with global investors, partners, and innovators, fostering collaboration and paving the way for future growth🚀 #SLUSH2024 #KoreanStartups #Innovation #Networking #KOTRA #KotraBusinessCenter #GBSA #GyeonggiBusinessScienceAccelerator #Vertical Neurabody (formerly Posture AI) Gene Story Korea Inc. SNPLab Inc. Huniverse Global MEDIAIPLUS Murple Intelliwebi Co.Ltd IT TECH co.,Ltd WORLDCNS Co.,Ltd. TEAMPLAYER Alycehealthcare inc. World Home Doctor Corp. Simvity

Korean jang-making culture set for UNESCO heritage status   The traditional South Korean culture of making fermented pastes and sauces, such as soy sauce (ganjang), soybean paste (doenjang), and chili paste (gochujang), has received a strong recommendation for inclusion on UNESCO’s Intangible Cultural Heritage list. According to UNESCO’s recent announcement on its website, the evaluation body of the Intangible Heritage Committee has reviewed Korea’s submission for jang making culture and issued an inscription recommended decision. Given that reversals of these recommendations are rare, experts believe that official inscription is likely. If officially inscribed, jang making culture will become Korea’s 23rd entry on UNESCO’s Intangible Cultural Heritage list.   The fermented jang pastes are not only essential to Korean cuisine but are also celebrated for their health benefits due to the natural fermentation process.   Korea’s UNESCO heritage entries began with Jongmyo Jerye and Jongmyo Jeryeak in 2001, with the most recent being Korean Talchum in 2022. Source : https://lnkd.in/gEJ6kXbk

In this month’s IK magazine Industry Focus, we explore recent developments in Korea’s semiconductor sector. After a challenging first half of 2023 due to global supply chain disruptions, the industry rebounded as exports stabilized, driven by strategic production adjustments from key players like Samsung and SK Hynix. With exports nearing USD 88.8 billion by August, Korea is set to break new records. Looking forward, the country is building the world’s largest semiconductor mega-cluster in Gyeonggi Province, spanning 21 million square meters, to secure its global leadership. The government's KRW 26 trillion investment in the semiconductor ecosystem has also attracted global suppliers of materials, parts, and equipment to Korea, further enhancing its competitive edge. Discover more at: www.investkorea.org #InvestKorea #IKMagazine #Semiconductor #Samsung #SKHynix

Korea’s pet insurance market grows as pet ownership rises South Korea’s pet insurance market is growing rapidly as the number of people raising pets increases. The number of pet insurance policies held by the country’s 10 major non-life insurers was 144,884 as of the end of September 2024. The number of pet insurance policies was only 7,005 in 2018, but surged to 24,199 in 2019, 35,415 in 2020, 51,727 in 2021, and 71,896 in 2022. The increase in the number of policies held is attributed to the rise in new contracts. The number of new pet insurance contracts in the first nine months of this year was 63,113, surpass The number of new pet insurance contracts in the first nine months of this year was 63,113, surpass According to the Ministry of Agriculture, Food, and Rural Affairs, there were 6.74 million pet-owning households in Korea last year, accounting for 28.2 percent of all households. Source : https://lnkd.in/gphcFptZ

This is Slush 2024: Metamorphosis—a call for radical transformation. We’re incredibly proud to present to you what we've been working on since late last year. Slush 2024 calls for active unity, which holds the power to lead us to the ultimate change—an irreversible transformation both necessary and widespread, individual and societal. This year, we present you with:   💚 20,000+ meetings among the largest and most concentrated gathering of innovation and venture capital under the sun with 3,300 investors and 5,500 startup founders and operators.  💚 4 stages with refined concepts and a world-class lineup of industry stars. Speaker line-up launching Aug 12.  💚 Over 3 trillion USD in AUM all under one roof brought by the world's leading funds.  💚 2+1 days of Slush-organized hyper-curated activities to make every moment in Helsinki count towards your success. Slush 2024 happens on Nov 20–21 in Helsinki. Buy your tickets now: slush.org/tickets Credits: Director, 3D Artist & Sound: Oscar Böckerman  Produced by 066 Studio Executive Producer: Kirmo Manninen  Volumetric Scan: Civit, Jani Käpylä  Film Print: Cinelab  Models: Erina Giuseppe Francesco, Antti Nguyen, Karoliina Pärnänen

KOTRA Helsinki proudly supports Korean companies as they showcase their innovations on a global stage like Slush. We look forward to seeing the impact of Korean startups here in Finland! Please contact us if you want to hear more about 🖤

Gov't Pledges Support for Jeju's Envisioned Pilot Program for Air Taxis According to Yonhap News, The government on Tuesday pledged comprehensive support toward a pilot program for a commercial air taxi service on the southern resort island of Jeju. The Jeju Special Self-Governing Province aims to launch the pilot program on Jeju Island in 2025 in partnership with an urban air mobility (UAM) consortium comprised of public and private firms, including SK Telecom Co. and Hanwha Systems Co. The Ministry of Land, Infrastructure and Transport announced a range of support measures centered around Jeju's air taxi project at a government policy debate forum attended by President Yoon Suk Yeol on Jeju Island. The government and the province plan to establish vertiports for air taxi takeoffs and landings initially in three locations: Jeju International Airport, Seongsan Port in Seogwipo and the Jungmun Tourist Complex. The pilot operation will focus on verifying the safety and commercial viability of UAM routes based at these locations. The pilot service will also test the conditions for UAM use in public and general transportation, including emergency medical services, officials said. Jeju plans to apply for the designation of UAM pilot operation zones in 2025. Authorities plan to draw up and establish relevant regulations based on findings and results from the pilot project. Aircraft from Joby Aviation, a U.S. air taxi developer in partnership with the consortium, will be used in the project. Aircraft from local companies, such as Hyundai Motor Group and Hanwha Systems, are also expected to be deployed for the full-fledged commercialization, envisioned to begin in 2028. The province plans to utilize the service for various tourism purposes by benchmarking helicopter tour programs in Hawaii and other popular destinations. A ministry official said the project is "expected to boost local tourism and contribute to the growth of Korea's early UAM market." Copyrights Yonhap News. All Rights Reserved. Find out more information about Korea: www.investkorea.org #KOTRA #InvestKorea #AirTaxi #UAM

Korean author Han Kang awarded 2024 Nobel Prize for Literature   Korean author Han Kang won the 2024 Nobel Prize in Literature, the Swedish Academy announced.   The committee praised her work for its “intense poetic prose that confronts historical traumas and exposes the fragility of human life.”   Han, best known for "The Vegetarian" (2007), is the first Korean to win a Nobel Prize in literature and the second Korean to win a Nobel Prize after late President Kim Dae-jung, who was recognized for his efforts to improve relations with North Korea with a Nobel Peace Prize in 2000.   Han was born in 1970 in the southern city of Gwangiu and graduated from the Department of Korean Literature at Yonsei University.   She made her literary debut in 1993 with the poem "Winter of Seoul" and wrote her first novel, "The Red Anchor" in 1994. Catapulting to domestic fame in the 2000s, she started receiving global acclaim in 2016 with the International Booker Prize for her novel, "The Vegetarian." Han's novel "I Do Not Bid Farewell" (2021) won the Prix Medicis award last year after being shortlisted for the award's foreign-language category, becoming the first Korean author to win the award. Source : https://lnkd.in/gkdch88K

Korea sets goal to become one of top three AI leaders The South Korean government has formally announced its goal of becoming one of the world‘s top three artificial intelligence (AI) powerhouses by 2027. The government plans to expand state-level support to secure leadership in AI, which is considered a “game changer” for future industries. The Korean government plans to invest 2 trillion won ($1.52 billion) to establish a National AI Computing Center. The plan is to expand the current graphics processing unit (GPU) capacity to more than two exaflops, or 15 times the current size. The government will also change its visa policies to attract foreign talent. The government will create a new visa program in the first quarter of 2025 to attract high-level talent in advanced fields such as AI and robotics. A Top-Tier visa will be offered to individuals with a bachelor‘s degree or higher in science and engineering from top global universities, employees of universities, companies, or research institutions, and holders of world-class foundational technologies, as well as their accompanying families, to encourage settlement in Korea. The government also plans to enact a basic AI law to develop the industry and address various side effects such as fake news. Source : https://lnkd.in/gXxf9EAd