Eve of Business Presentation at OpenAI Headquarters: Gathering of Korean Startups and Investment Professionals
On the 13th (local time) in San Mateo, California, at a Korean startup event, Ji Kwang-chul, CEO of Next Payments (far right), responds to a question from Kim Sung-hoon, CEO of Upstage (far left). Next Payments is one of the 14 Korean startups selected by OpenAI for potential collaboration. At "Unlocking AI Innovation," an event hosted by "82 Startups," a leading Korean venture community in Silicon Valley, Ji Kwang-chul shared his company's perspective on why they were chosen by OpenAI. He emphasized how Next Payments could assist small business owners, who represent 90% of domestic businesses, in utilizing AI in their daily lives. During the same session, Lee Dong-heon, CEO of Asleep, proposed the idea of creating an "AI assistant" that operates 24 hours by combining 16 hours of activity time with 8 hours of sleep time. Asleep is a sleep tech company. He highlighted that sleep is a crucial aspect of productivity, aligning with OpenAI's mission to enhance human productivity with AI. OpenAI, a leading productivity AI company, invited 14 startups from Korea to its headquarters in San Francisco for pitching sessions on the 14th. These 14 companies were selected from over 200 applicants as part of OpenAI's initiative. Following their visit, 10 of these startups will be chosen as final collaborative partners. The event in San Mateo, "AI's Night," serves as a prelude to the startups' crucial pitches.
On the 13th (local time), at a Korean startup event held in San Mateo, California, DK Domain's CEO, Lee Dong-kyun, is introducing their technology. The event was attended by around 200 people, including representatives from 14 startups, officials from the Small and Medium Venture Business Department, local Korean startup founders in Silicon Valley, and venture capitalists. The startups had the opportunity to briefly explain their businesses to local Korean investors and exchange experiences of entering the U.S. market.
GTF Ventures' CEO, Eum Jaehoon, a representative Korean VC in Silicon Valley, said, "The atmosphere in Silicon Valley isn't particularly good." He continued, "While the market cap of a few big tech companies is increasing, venture investment remains challenging, and the situation is even tougher for businesses not related to AI." Nonetheless, he reminisced, "When I first started investing here, if Korean investors gathered, we would order a pizza and share it slice by slice," adding, "After 30 years, there are so many Koreans here now, and despite the difficult times, I believe they can achieve good results."
Lim Jung-wook, Director of the Startup Venture Innovation Division at the Small and Medium Venture Business Department, also commented, "I also feel that the next-generation Korean power is growing vigorously, and we will create many venture exchange programs domestically and internationally." He added, "Now is the time to not only encourage Korean companies to expand overseas but also to consider 'inbound' efforts to attract talented individuals and companies to Korea."
At a Korean startup event held in San Mateo, California on the 13th (local time), local Korean employees working at major tech companies discussed the changes and prospects brought about by artificial intelligence (AI) in the industry. During the event, a session was also organized to forecast the future of AI technology, where Korean employees from companies like Google and Adobe shared insights into the current atmosphere. Mr. Jung Hyun-jun, who works at Adobe, mentioned, "After the emergence of generative AI, the demand for developers has decreased," adding, "Previously, out of 30 developers, 20 were dedicated to model training, but now only 5 are needed." The requirements for engineers, who were once in high demand, are changing. It was also noted that the tech industry views AI as a "Weapon of Mass Disinformation," akin to a "Weapon of Mass Destruction," and new principles for technology development that prioritize safety from the development stage are being applied in big tech companies.
The startups selected by OpenAI also expressed their aspirations for the upcoming pitching event. Lee Dong-kyun, CEO of DK Domain, which develops educational systems for students and new nurses, stated, "In Korea, there has been low awareness and insufficient investment in the nursing field, but I will promote our technology well at OpenAI." Consul General Lim Jeong-taek of the Consulate General of the Republic of Korea in San Francisco expressed his commitment to actively supporting the globalization of Korean startups through a congratulatory speech.
Aurora, Reporter, aurora@chosun.com
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Eve of Business Presentation at OpenAI Headquarters: Gathering of Korean Startups and Investment Professionals
On the 13th (local time), at a Korean startup event held in San Mateo, California, DK Domain's CEO, Lee Dong-kyun, is introducing their technology. The event was attended by around 200 people, including representatives from 14 startups, officials from the Small and Medium Venture Business Department, local Korean startup founders in Silicon Valley, and venture capitalists. The startups had the opportunity to briefly explain their businesses to local Korean investors and exchange experiences of entering the U.S. market.
GTF Ventures' CEO, Eum Jaehoon, a representative Korean VC in Silicon Valley, said, "The atmosphere in Silicon Valley isn't particularly good." He continued, "While the market cap of a few big tech companies is increasing, venture investment remains challenging, and the situation is even tougher for businesses not related to AI." Nonetheless, he reminisced, "When I first started investing here, if Korean investors gathered, we would order a pizza and share it slice by slice," adding, "After 30 years, there are so many Koreans here now, and despite the difficult times, I believe they can achieve good results."
Lim Jung-wook, Director of the Startup Venture Innovation Division at the Small and Medium Venture Business Department, also commented, "I also feel that the next-generation Korean power is growing vigorously, and we will create many venture exchange programs domestically and internationally." He added, "Now is the time to not only encourage Korean companies to expand overseas but also to consider 'inbound' efforts to attract talented individuals and companies to Korea."
At a Korean startup event held in San Mateo, California on the 13th (local time), local Korean employees working at major tech companies discussed the changes and prospects brought about by artificial intelligence (AI) in the industry. During the event, a session was also organized to forecast the future of AI technology, where Korean employees from companies like Google and Adobe shared insights into the current atmosphere. Mr. Jung Hyun-jun, who works at Adobe, mentioned, "After the emergence of generative AI, the demand for developers has decreased," adding, "Previously, out of 30 developers, 20 were dedicated to model training, but now only 5 are needed." The requirements for engineers, who were once in high demand, are changing. It was also noted that the tech industry views AI as a "Weapon of Mass Disinformation," akin to a "Weapon of Mass Destruction," and new principles for technology development that prioritize safety from the development stage are being applied in big tech companies.
The startups selected by OpenAI also expressed their aspirations for the upcoming pitching event. Lee Dong-kyun, CEO of DK Domain, which develops educational systems for students and new nurses, stated, "In Korea, there has been low awareness and insufficient investment in the nursing field, but I will promote our technology well at OpenAI." Consul General Lim Jeong-taek of the Consulate General of the Republic of Korea in San Francisco expressed his commitment to actively supporting the globalization of Korean startups through a congratulatory speech.
Aurora, Reporter, aurora@chosun.com