As the Israel, Europe and US, Korea has made a long way in the global innovation, mainly in the technical industry; there is lots of excitement in establishing an ecosystem in South Korea, following highly distinguished emerging stories.
The main thing that is encouraging all the way is that, Where the Korean companies used to be controlled to their domestic market, which at present Korean tech establishers are commencing to make signs overseas, in global customer acquisition terms and also in investment.
Recently, the global innovation index published that the South Korea ranked top in the world based on the number of solution pointer like development capability and research, tech density, productivity and exclusive rights activity.
Generally, this event achievement which has never been in the past linked or connected in any other way with innovation is not a surprising fact to those who are responsive of the enormous growth and development in the beginning ecosystem. It lashed out for a second time, nearly two years back after a simple failure in development in the early 2000s.
Requires support of other countries
Being a small country, it cannot perform anything on its own, but requires the support and natural resources of the other developing country which helps to prove their ability in technical field. This leads to making a choice and it is perfect for South Korea to be remarkable at a few technologies than average in most of the fields.
At present, the main priorities understood by the government for technological and scientific research are amid the fields of e-commerce and robotics. Today, South Korea has approved robotics with same interest and intensity which they did with high speed broadband, smart phones and widescreen televisions.
Well Korea even now desires to make a well reputed position for itself with its next generation, industrial robotization which could offer tough competition to the Japanese robotics companies in the long run.
Growth of a private enterprise ecosystem
Above the background of growth and activity, Young techies of South Korea are building a progressively more vigorous start-up scene which is led by the social mobile services like kakao talk, makers of Between and mobile game developers like Devsisters.
Apart from this, Google has observed the rise of such private enterprise activity and has occupied an active role in molding South Korean companies presenting the most talented techies to the US market through the Korean introducing accelerator, Sparklabs. Well with the right blend of guidance and investment, new Korean companies can lead on the US and other international markets and scale their businesses.