Why the Singapore tech scene is a big draw for Korean startups

"Singapore’s strengths lie in its conducive business environment and advanced tech ecosystem

Claudia Hyun, Senior Manager of Global Acceleration Division of GCCEI

For decades, government agencies from across the world have been drawn to Singapore, owing to its renowned status as a sturdy regional financial and tech hub. A good example would be South Korea. It shares strong diplomatic relations with Singapore and they have long been bosom trade partners. Both countries also actively invest in high tech industries.

One reason why Korean companies and organisations are eager to tap into Singapore’s ecosystem is the ease of market access.

'Korean startups used to look mainly at China but More and more Korean startups get interested in getting acceleration and doing business in Southeast Asia,' said Claudia Hyun, Senior Manager of Global Acceleration Division, GCCEI (Gyeonggi Center for Creative Economy & Innovation).

'And since there is no language barrier in Singapore because its official language in the country is English and seeing that it has a multicultural and open business environment, making Singapore an ideal market for collaboration and partnerships.'"

FirstCOUNSEL has seen a big uptick in interest from startups around the region wanting to be based in Singapore and using it as a launchpad into the Southeast Asia and beyond.

Let us know if your company would like to take advantage of all the benefits of being based in Singapore!

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And to read more about the Korean startups, click here.