KITA opens Startup Branch at COEX
The Korea International Trade Association (KITA) has opened a "Startup Branch" at COEX, with an aim to provide an open platform for startups to scale up and globalize.
All aspiring entrepreneurs, venture capital companies (VCs) and accelerators are welcome to use the branch, according to KITA, Tuesday.
The Startup Branch is divided into offices where startups can pitch their disruptive ideas, a consulting area where startups, VCs and accelerators can engage in networking, and a cafeteria.
"Considering declining exports and the sluggish economy, it is necessary to both globalize and scale up startups," KITA CEO Kim Young-ju said during a press conference introducing the Startup Branch.
"The Startup Branch is an open platform for startups to not just expand their businesses, but also make connections with established corporations. KITA can help with providing a meeting place and enormous networks."
According to Kim, KITA can offer more freedom and creativity compared to the Korea Trade-Investment Promotion Agency and Korea SMEs and Startups Agency, which run similar programs, because it is not tied to government aid.