Oh Se-hoon: "Seoul Will Become a City That Nurtures Technology Companies and Sends Them Out to the World"

[Financial News] Seoul will invest 42.5 billion won in Seoul-style research and development (R&D) and establish the 4 trillion-won 'Next Economy Seoul Fund' starting in 2027 to support startups in future industries, including AI and deep tech. Seoul Mayor Oh Se-hoon attended the opening ceremony of the startup festival 'Try Everything' at DDP on the 9th and said, "We will make Seoul a city that does more than discover technology—a city that nurtures companies and sends them into global markets." He presented three strategies for turning Seoul into a global startup hub: an AI and deep-tech innovation city, a global scale-up city, and an open startup ecosystem.
In particular, Oh said, "Innovation is born only when startups take bold risks, investors discover their potential, and companies and universities join forces." He also expressed his commitment to creating an open startup ecosystem through public-private cooperation.
To this end, Seoul will invest 42.5 billion won in Seoul-style R&D this year to identify promising technologies in AI and AX. The city plans to support the entire process, from research and development to demonstration and commercialization, at future-industry hubs such as Yangjae AI, Hongneung Bio, and Suseo Robotics. Starting in 2027, it will establish the 4 trillion-won Next Economy Seoul Fund to invest in future industries, including AI and K-culture, expand overseas networks, and support Seoul startups’ global expansion.
Seoul will also expand cooperation among startups, investors, companies, universities, and research institutions. The plan is to create an open startup ecosystem that attracts outstanding talent and companies by improving regulations and eliminating unnecessary procedures.
Following the opening ceremony, Oh visited exhibition booths at the venue and viewed a range of innovative technologies.
Meanwhile, Try Everything is a global startup festival designed to promote cooperation among domestic and international startups, investors, and large companies while expanding startups’ opportunities to attract investment and enter overseas markets. Last year’s event generated 180.9 billion won in investment commitments. This year’s event, held at DDP on the 9th and 10th, features exhibitions of innovative technologies, lectures by global leaders, startup investor-relations sessions, meetups, and networking events.

[email protected] Seong Cho-rong Reporter