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ASEAN and Korean youth to leap forward as startup entrepreneurs

ContactContents Inquiries: Monica Dulos, Officer, IDU (+82-2-2287-1148, mdulos@aseankorea.org)
Press Inquiries: Kim Ji-won, Assistant Officer, IDU (+82-2-2287-1145, jwkim@aseankorea.org)
ASEAN-Korea Centre is an International Organization mandated to promote economic and socio-cultural cooperation between ASEAN Member States and Korea.

ASEAN and Korean youth to leap forward as startup entrepreneurs

- The ASEAN-Korea Centre and the ASEAN Youth Network in Korea to co-organize the ASEAN Youth Startup Development Workshop (26 May, Seoul) -

Seoul, Korea – The ASEAN-Korea Centre (Secretary General Lee Hyuk) and the ASEAN Youth Network in Korea (AYNK) will co-host the ‘2018 ASEAN Youth Startup Development Workshop’ on 26 May 2018 at the ASEAN-Korea Centre in Seoul. Around 80 ASEAN and Korean university students in Korea will participate in the Workshop in which experts will give talks on how to develop startup business ideas and pitch them to domestic and foreign investors. The event will also serve as an opportunity for the teams of participants to develop startup business ideas and make a presentation, as well as expand their links through a networking reception.

Lee Hyuk, Secretary General of the ASEAN-Korea Centre, said, "Today, most unicorns or start-up companies valued at more than 1 billion USD in ASEAN, such as Grab and Go-Jek, are led by young entrepreneurs in their 30s. Considering that the ASEAN region is young and dynamic with 65 percent of the population under the age of 35, young entrepreneurs are expected to continue leading startup businesses in ASEAN. In this regard, the forthcoming Workshop will play an important role in bridging between ASEAN and Korean startups by enhancing the entrepreneurial capability of ASEAN and Korean youth and fostering them as young entrepreneurs."

The Workshop will be comprised of two parts at large, namely talks and mock pitching. In the first part, talks will be conducted under the following topics: ‘Developing Business Ideas’; ‘Creating a Startup Business Plan’; and ‘Pitching Startup Business Ideas.’ The first talk will expound on necessary factors that need to be considered in developing startup ideas and how to develop, access, and analyze them. The second talk will provide insights on how to concretize and implement a startup business plan in various ways based on the experience of a young entrepreneur. The last talk will cover ways to effectively pitch startup business ideas to domestic and foreign investors from a global point of view. The speakers will be Dr. Jeoffrey Calimag, a Filipino Professor of International Business, Trade, and Global Management at the University of Ulsan; Mr. Richard Cho, CEO of TriPriend who established an offline international friend matching platform; and Mr. Lorenzo Swank, Managing Partner and Co-Founder of Pixio, an American mobile app development company.

In the second part, participants will perform a mock pitching based on the lessons they learned from the talks. They will be divided into teams of six or seven members to develop startup business ideas and to practice pitching by giving a presentation in front of lecturers and participants. Prizes will be awarded to the teams with excellent startup business ideas after the evaluation. In addition, participants will be given a chance to ask questions to the lecturers and build networks.

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