e&Co. in South Korea: Talk at Business Event in the Gwangju Creative Economy Centre.
As the managing consultant in charge of Asian business at e&Co., Geza Brugger recently travelled to one of the prestigious South Korean innovation centres, offering a talk on the German car industry. He also spoke on the role of German Mittelstand companies, the challenges facing them, and the chances open to them. This exciting exchange with a range of successful Korean businesses took place at the Gwangju Creative Economy Innovation Centre, a part of the Gwangju Institute of Science and Technology (GIST).
The largest of South Korea’s six national innovation centres, it was founded in 2015 by Hyundai Motors and Kia Motors. All of the innovation centres are part of a government initiative to develop creative entrepreneurship across the country; Korean corporations and conglomerates are paired with economically dynamic regions with the aim of supporting the local economy by researching future technology. Small and medium-sized start-ups working on cutting edge technology are given targeted funding as they build up regional business networks, the goal being to match these start-ups with accelerators such as e&Co. in order to further the development of business models and support companies as they expand globally.
The primary focus of the highly-intensive one-on-one meetings held with company representatives was clean power technologies such as fuel-cell engines, hybrid vehicle concepts, and sharing models for electric vehicles. Another focal point was compiling expansion strategies into the European market, an issue on which e&Co. will be offering support to many of those present at the event in the course of the coming year.
(Image: Opening of the Gwangju Creative Economy Innovation Center in 2015; Chung Mong-koo (Chairman of Hyundai Motor Group) and Park Geun-hye (President of South Korea). Source: Korea Joong Ang Daily)