On the second day of the Korea-LAC Business Summit, a group of aspiring startups from Korea and Latin America presented their business ideas for further cooperation and overseas expansion.
Lee Min-sun reports. To further strengthen business ties between Korea and Latin American countries, aspiring startup companies from both regions gathered in Seoul on Tuesday.
On the second day of the Korea-LAC Business Summit, 24 startup companies from Colombia, Argentina, Uruguay and Korea presented their business ideas to a group of investors, entrepreneurs and supporting institutions at the Startup Pitching Day event.
The session is aimed at establishing long-lasting economic ties between the two regions and building potential partnerships at a company level, especially in the tech sector.
"We have the technology to predict future traffic based on the analysis of traffic information. We are not aiming at any certain country, but we are targeting Latin America because many Latin American countries lack traffic information technology and that causes traffic jams and accidents. Our service can prevent or reduce traffic accidents or other risks."
"Fitpal is an app that groups hundreds of gyms and physical activities into one single membership. We think coming to the Asian market especially the Korean market is really important because being physically active prevents the occurrence of non-transmissible chronic diseases as hypertension and diabetes that killed millions of people a year."
Five startups, one from each country and the grand winner, were selected to receive awards at the event. The winners will also receive additional support from the organizers.
"After the pitching session, startups had the chance to have one-on-one meetings to get practical information and advice. Companies and venture capital firms met with startups to discuss potential partnerships.
Lee Min-sun Arirang News."