A third world nation just 50 years ago, Korea is now the world's 15th biggest economy, a major force in the global tech scene and home to Samsung, the world's top smartphone manufacturer. It is also rapidly emerging as a regional tech hub and startup hotbed as well as an avid consumer of new technology. But it wasn't always like this. This Slideshare provides a glimpse into Korea's tech past to explain how the nation has rapidly emerged as a global heavyweight. Then we dive into the startup ecosystem which has been built on top of a world class tech infrastructure and provide clues to what you can expect from Korea in the years to come.

1. Seoul’s Technology & Startup Ecosystem
Nathan Millard, CEO G3 Partners
nathan@g3partners.asia / +82 (0)10 87237702

3. It wasn’t
always
like this…

4. Gangnam in the
1950s

5. Gangnam in
2015

6. Seoul
Metropolitan
Area
28M26M
Rest of Korea

7. GDP per capitaSmartphone
Penetration
E-Commerce Market

8. Samsung & LG hold 60% m/s
while Apple 33% in device market
95 % m/s for Kakaotalk (of 73% smartphone
penetration in S. Korea) & 4% for LINE in
messenger service (as of Apr.2014)

9. 68%
Revenue from apps plus other digital
content comes from games
$5.27
Per user per month in gaming
Per user per month across all digital
content
$2.92

10. Korea’s Startup Ecosystem

11. Startup Co-working Spaces

12. Startup Accelerators & Incubators

13. Startup Events

14. • Around 1,000 Angels
• Seed Investment: KOISRA, DEV Korea, 500 Startups, The Ventures
• Series A: Capstone, CCVC, Venture Port, Formation 8,
K Cube Ventures, Strong Ventures, Smilegate Investment
• Series B: Altos Ventures, CyberAgent Ventures, Softbank Ventures,
Qualcomm Ventures, IMM Investment, NeoPlux, Stonebridge Capital, DSC Investment, SL
Investment
Investors

15. Investment per stage – Asia

16. • $12B USD pledged for building
“creative economy”
• Legitimizing entrepreneurship
• Innovation centers in major cities
• TIPS program (1:5 & 1:7 matching)
Park GeunHye & ‘The Creative Economy’

17. The Korean Unicorn Club

18. • IT infra that supports IT development
• Quality engineers, with strong work ethic
• Leaving corporations & appreciation of risk
• Global vision, bigger, better quality ideas
• Mentor networks and Angel investors
• Government support (money, PR, education, economic diversity)
• Exchange of students & ideas (Korea – West)
• Korean Americans returning to join startups
• Economic conditions that can support entrepreneurship
Why The Boom? Why Now?

19. The ‘Ajuma Factor’
preventing startup
growth?
“Get a nice job in Samsung
and a good wife, son.”

20. Signs of Success 4:33 Creative
Labs

21. • Maturing platform situation (dominated by 1 – 2 players)
• Global competition (hardware, software, services)
• Opportunities in IoT & smart home
• Korean tech startups & SMEs more determined globally
• Korean consumers will lead global mobile trends
• Closer relationship with China
Everyone Loves a Trend…

22. Nathan Millard, CEO G3 Partners
nathan@G3Partners.asia : +82 (0)10 8723 7702