Seoul mayor unveils vision to be deep tech, AI hub at startup fair

At the ‘Try Everything 2024’ opening, Seoul Mayor Oh Se-hoon, Chang Seung-joon, Vice Chairman of Maekyung Media Group, and Lila Ibrahim, COO of Google DeepMind, cheer for K-startups. (Lee Seung-hwan)

Seoul Mayor Oh Se-hoon announced plans to position the city as a testing ground for deep tech, including artificial intelligence.

Speaking at global startup fair Try Everything 2024, which was held at Dongdaemun Design Plaza in Seoul on Wednesday, Oh pledged the South Korean capital city’s commitment to deep tech industries.

“Seoul will increase its support for research and development in AI, robotics, biotech, and fintech, transforming the entire city into a testing ground for deep tech,” he said.

He also shared plans to help Korean startups expand globally, emphasizing the need for international growth as Korea’s domestic market is only 5 percent the size of the U.S. market. He aims to elevate Seoul from its current ninth place in Startup Genome’s Global Startup Ecosystem Ranking to a top five global startup city.

Try Everything is a startup fair that gathers promising startups, companies, investors, and accelerators worldwide. Co-hosted by the Seoul Metropolitan Government and Maekyung Media Group since 2020, the 2023 event attracted 566 startup ecosystem experts and 563 investment firms, resulting in investments worth 95.3 billion won ($72 million).

The 2024 edition, themed “New Waves, New Ways,” features notable participants, including The Drivery, a Germany-based mobility accelerator collaborating with major players including Hyundai Motor Co.’s startup platform Cradle, Honda Motor Co., and Continental AG’s venture firms. Other highlights include the Quebec Pavilion, with the participation of world-renowned AI research institute Mila, and the French Pavilion, hosted by the Grenoble Investment Agency.

Ahead of the opening ceremony, startup founders and students flocked to the country pavilions, eager to seek advice and network with experts. Key attendees at the opening ceremony included Oh, Maekyung Media Group Vice Chairman Chang Seung-joon, and Google DeepMind Technologies Ltd. Chief Operating Officer Lila Ibrahim.