Korea Startup Forum (KSF) successfully hosted ‘BUSAN Slush’D 2024‘ at BEXCO in Busan on the 25th. Marking its second year, BUSAN Slush’D attracted around 1,000 attendees, including local startups, domestic and international investors, aspiring entrepreneurs, and students.

The event addressed regional challenges such as job decline and the exodus of young talent, and featured various programs aimed at fostering a startup culture, promoting global exchanges, and enhancing the self-sustainability of the local ecosystem.

The event kicked off with opening remarks from KSF Chairman Han Sang-woo and a congratulatory speech from Yang Jae-saeng, Chairman of the Busan Chamber of Commerce and Industry. Dignitaries such as Oh Ki-woong, Vice Minister of SMEs and Startups, Park Hyung-joon, Mayor of Busan, Kang Seok-hoon, Chairman of Korea Development Bank(KDB), and Bin Dae-in, Chairman of BNK Financial Group, also attended. As part of KDB’s ‘V:launch@Slush’D’ initiative, public and private sector representatives attended the ‘Busan Future Growth Venture Fund’ inauguration ceremony, visited startup booths like Marine Innovation and Green Oceans, and encouraged business models reflecting local characteristics.

During the conference session ‘Slush’D Talk’, entrepreneurs and experts discussed strategies for invigorating the regional startup ecosystem. Yang Jae-saeng shared his philosophy based on over 30 years of experience building EunSan Shipping & Air, and encouraged young entrepreneurs to start businesses in Busan to spur regional economic development. In a special session co-organized by KSF and the Busan Chamber of Commerce, KSF Southeast Region Chairman Kim Min-ji, Kyung Sung Ritz CEO Chae Chang-il, and Amuse CEO Lee Woo-jin pledged cooperation between senior and junior entrepreneurs and urged governmental support for the southeastern startup ecosystem.

Focusing on global expansion and student entrepreneurship, the event featured startup representatives active in global markets and early-stage entrepreneurs as speakers. Park Joon-sang, CEO of Series Ventures, and Kim Jae-eun, Director of Delivered Korea, discussed investment trends and global investment strategies for scaling up Busan startups. Kim Se-hwang, former guitarist of Next and COO of Attract USA, emphasized the need for collaboration across various industries to secure global competitiveness.

Bae Ho-jin, CEO of Sandberg and a student entrepreneur from Pusan National University, shared his dreams and ambitions of growing into a unicorn company. Park Ye-ji, a pre-entrepreneur from Pukyong National University, discussed the realities and future vision of Busan’s startup environment with Kim Na-kyung, CEO of Soldout, and Yeom Sang-joon, CEO of Sendi.

Experts like Sohn Hae-in, Brand Strategy Leader at Upstage, and Ahn Hee-chul, Partner Attorney at DLG Law Firm, gave special lectures on generative AI and startup legal fields. Additional events were held by KSF Southeast Region Council, Korea Exchange, and Google for Startups to discuss the growth of local and startup ecosystems.

The IR pitching of startups from Busan, Ulsan, and Gyeongnam region featured 15 innovative startups selected through preliminary rounds. In the Youth League for student entrepreneurs, ‘Ready Space’ won with their energy harvesting formula using piezoelectric devices. In the New Wave League for early-stage startups, ‘LaurenChoo Company‘ won with their non-alcoholic beverage manufacturing based on scent analysis data. ‘Eflow‘, a micro-mobility engine development company, was selected as the top company in the Global League. These three teams will receive full support to participate in Slush in Helsinki, Finland, in November, including business meetups and exchanges with local stakeholders.

The event also facilitated global exchanges with representatives from Slush’D host cities and international VC investors. Organizations like Lucham Capital (India), Arcade Ventures (Malaysia), Wave Ventures (Sweden), and Helsinki Partners (Finland) visited Korea to explore mutual market entry and investment opportunities with student and local startups. They will continue to engage with the local ecosystem through a workcation in Busan after the event.

Furthermore, active meetings between local startups, domestic and international investors, and ecosystem stakeholders took place. At ‘Slush’D Meet’, representatives from Lotte Ventures, Bluepoint Partners, Big Basin Capital, SmartStudy Ventures, KAIST Venture Investment Holdings, Korelya Capital, Hyundai Motor Securities, 541 Ventures, KT Investment, and LG Uplus provided practical advice and discussed investment and business collaboration plans. ‘Slush’D Show’ featured business promotion booths operated by about 30 local startups and sponsors.

KSF Chairman Han Sang-woo stated, “The Southeast region served as the last bastion and the foundation for Korea’s economic growth and innovation, even during the devastation of the Korean War 74 years ago. I am grateful to all the stakeholders who participated in this year’s BUSAN Slush’D, aimed at revitalizing the regional economy and spreading entrepreneurship. We will actively support Busan and the Southeast region to serve as a global startup hub based on the innovative energy of startups.”