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S. Korea, ADB to hold startup road show this week

Dec. 6, 2021 - 13:48 By Yonhap

This undated photo shows the exterior of the ministry building in the central administrative city of Sejong. (Ministry of Economy and Finance)
South Korea and the Asian Development Bank (ADB) plan to co-host a road show this week with an aim to facilitate Korean startups' foray into the Asia-Pacific region and find ways to promote sustainable growth of developing nations, the finance ministry said Monday.

The ADB Ventures Korean Roadshow will be held Friday both via YouTube streaming and at Dream Plus in Seoul's southern district of Gangnam, according to the finance and SME ministries.

At the event, the Korean government plans to promote its participation in the ADB Venture Fund, a $60 million fund that the regional bank created to support startups in green energy, fintech, agriculture and health care.

South Korea invested $15 million in the ADB Venture Fund in an effort to help more Korean venture firms make a foray into Southeast Asian countries and promote sustainable growth in the region.

At the event, participants will discuss ways to develop a friendly ecosystem for startups. The ADB will introduce two Korean ventures that have received its investment and the Korean government will give prizes to three companies that are the winners of the contest for sustainable growth business models in the Asia-Pacific region.

The finance ministry said it will continue to help innovative venture firms attract investments and hold foreign investor sessions to enhance networking. (Yonhap)