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[ARTICLE]
Southeast Asia – the startling market for domestic startups (AE)

“Southeast Asia is a startling market for domestic startups

[ASIAN ECONOMY]

Interview with Mr. Philip Park, Managing Director of KILSA Global (박종석 킬사 글로벌 대표 인터뷰)

KILSA Global Managing Director – Philip Park said in an interview with the Asian economy on the 14th that Korean startups need to pay attention to the Southeast Asian market in order to continue to grow. KILSA is a company that assists startups and small and medium-sized enterprises to advance into Southeast Asia and acts as the businesses local business development and management representatives, and is currently working with 10 domestic startups.

The reason Park is focusing on the possibility of Southeast Asia, a huge consumer market, is because of the population structure. The Association of Southeast Asian Nations (ASEAN / ASEAN) has a population of 650 million, the third largest in the world, and the proportion of young people under 40 is 66%, the highest in the world.

This means that the characteristics of this demographic structure will be an opportunity for our start-up industry while maintaining an average annual growth rate of 5% in the past 10 years. “If Korean startups with advanced IT technologies such as virtual reality (VR) have a good commercialization strategy, there is a good chance of winning it.” “There is less risk of technology leakage, etc.”

Article extracted from https://n.news.naver.com/article/277/0004678044.