Could South Korea come to rival Silicon Valley?

Can South Korea’s new culture of business and creativity eventually rival Silicon Valley? The number of tech startups has surged by 80 per cent since 2011. “Korea is now the biggest startup in the world,” smiles Richard Min, cofounder of the SeoulSpace incubator and brand new Fashion Tech Accelerator. “60 per cent of all venture capital here is government-backed. In the US it’s one per cent,” said Min.

It may be time to say goodbye to a well-trodden cliche. Young entrepreneurs are proving that Korea can do more than copy. The number of tech startups has surged by 80 per cent since 2011. The number of accelerators went from one to more than 50. Here marketing consultant Mario Gamper, who has worked for Platoon Kunsthalle in Berlin and Seoul, gives us a glimpse of  how Korea is building a new culture of business creativity – that apparently rivals Silicon Valley.

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