[OsrsNeedsf2P]

> there really isn't much space left for startup culture to make a difference.

This is very much not the case - Startups are quite big in SK because the government gives them lots of funding.

Source: I worked at a South Korean startup. Fair warning to other foreigners, you will have to make _a lot_ of sacrifices.

[kijin]

> Startups are quite big in SK because the government gives them lots of funding.

Exactly. All that funding and the associated paperwork, not to mention the adverse incentives it brings to the table, help to turn the Korean startup ecosystem into yet another old-fashioned, government-controlled economic sector.

We all call each other the same honorifics, make our offices cute and comfy, and try not to have a visible hierarchy. But at the end of the day, it's the government that tells you which projects will be funded and when you should submit screenshots of the deliverables. Angels? Yeah, they exist, but where do you think half of their money comes from?

Source: also a South Korean startup.

[tkazec]

The government gives out a lot of grants to startups, but largely in the range of $10k-$100k USD. Beyond that, there aren't many angels, and VC is dominated by highly conservative corporates. It's an incredibly tough fundraising environment.

[laborcontract]

yup. i wouldn’t consider sk a startup hub in the remotest. like you said, the vc landscape perfectly reflects it.

[lifthrasiir]

> Startups are quite big in SK because the government gives them lots of funding.

They need funding mainly because otherwise the govt sector and chaebol would outlive them. It greatly depends on the exact circumstances though. (Source: Had been in several startups with varying degrees of funding.)

> Fair warning to other foreigners, you will have to make _a lot_ of sacrifices.

Mainly because most if all people in Korean startups are necessarily Koreans. The same thing happens whenever many members share the same background, not just the nationality.

[AYBABTME]

> Source: I worked at a South Korean startup. Fair warning to other foreigners, you will have to make _a lot_ of sacrifices.

As a foreigner living in Seoul, working for US startups, and eyeing creating a US-styled startup in Seoul in the future, what are the sacrifices you have in mind?

[neom]

Do you know of anyone who has created a US style startup in Seoul? Only two people I can think of are Matthew Shampine and Jason Boutte. Jason Boutte is literally the only foreigner I know who pulled it off, I've lived in Seoul doing startup stuff for 5 years till recently.

[AYBABTME]

Nope, I didn't search either. I just want to do it. (Hi John)

[neom]

Ha, I figured it was you. Hi Antoine! Feel free to look up Jason and tell him John sent you if you want, he's a cool dude and I'm sure responsive.