GS Group holds “GS Day” to discuss potential partnerships with startups

GS Group Chairman Huh Tae-soo [Courtesy of GS]

South Korea’s GS Group on Thursday held its first conglomerate-wide networking event with local startups, which was attended by its Chairman Huh Tae-soo and chief executive officers of the group’s units.

GS Day, the conglomerate’s first startup networking event, was held at GS Tower in Yeoksam-dong, southern Seoul. GS Group unveiled a business strategy to seek “future growth with startups.” The event was organized to share the conglomerate’s venture investment strategy and provide potential partnership opportunities with the startups.

About 20 startups invested by GS Holdings, GS Ventures, and GS Energy Corp. joined the event, along with 32 local venture capitals.

“Uncertainty in the business environment keeps on growing,” Huh said. “Startups that seek innovation are for sure the key players that will lead future industries based on digital new technology.”

Huh emphasized that startups and venture industry are essential partners for GS Group’s future growth.

The participants discussed trends in the venture industry and measures to boost cooperation.

Six representatives from the startups, including waste recycling platform provider RECO, held discussions with potential investors during the event concerning their business status and growth strategies.

There were also investors outside the group that attended the event, including specialized venture capital firms such as DSC Investment Inc., Altos Ventures Management Inc., SoftBank Ventures Asia Corp., and Kakao Ventures Corp. Large investors like DS Asset Management Co., IMM Investment Corp., and KDB Industrial Bank also joined the event, along with accelerators such as Envisioning Partners and Sopoong Ventures Corp.