A year after launching the Global Startup Center, South Korea is doubling down on inbound startup growth with expanded policies on Startup Korea Special Visa, dedicated managers, and regional hubs. By matching promising ventures with investors, corporates, and support networks, officials are aiming higher: nurturing the first foreign unicorn in Korea and solidifying the nation’s position as a competitive hub for global innovation.
Korea Upgrades Global Startup Entry Policies
South Korea is raising its ambitions to attract foreign entrepreneurs, with the Ministry of SMEs and Startups (MSS) unveiling expanded inbound measures at the first anniversary of the Global Startup Center (GSC) in Seoul.
During the anniversary ceremony on August 27, 2025, the ministry announced the expansion of the Startup Korea Special Visa, a program designed to help overseas founders establish operations in Korea with fewer bureaucratic hurdles.
Starting in September, local governments and private accelerators will be given recommendation rights—broadening access beyond central ministries. The Startup Korea Special Visa minimizes rigid quantitative requirements, focusing instead on a startup’s business potential and innovation capacity, with final approval granted by the Ministry of Justice.
Since the visa’s launch in November 2024, 16 foreign startups have secured entry into Korea. Officials expect the wider recommendation network to accelerate inflows of promising international ventures.
Building Regional Startup Hubs
Until now, most foreign-founded startups have clustered in Seoul’s metropolitan area. To address this imbalance, MSS announced plans to expand support infrastructure to regional startup hubs in South Korea, encouraging collaboration with local industries and research institutes. The ministry noted that regional expansion is essential to reduce Seoul’s over-concentration and to foster sustainable nationwide innovation capacity.
Promising companies will be matched with dedicated managers tasked with helping them raise investment, develop sales channels, and connect with large corporations. This targeted approach reflects the government’s broader ambition: enabling the birth of the first foreign unicorn in Korea.
Expanded Startup Korea Special Visa and Tailored Support for Global Founders
In addition to the visa reform, MSS introduced policies to make Korea a more attractive environment for foreign entrepreneurs in South Korea.
Professionals holding existing visas—such as professors (E-1), researchers (E-3), technical advisors (E-4), and specialized professionals (E-5)—can now establish startups while maintaining their existing residence status, provided they pass MSS’s business viability and innovation evaluation.
The ministry is also backing the creation of a foreign founders’ community and an online platform for collaboration, aiming to help global entrepreneurs integrate more fully into the Korean startup ecosystem.
Meanwhile, a Global Venture Forum, led by the private sector, will increase opportunities for partnerships between Korean and international startups and investors.
Global Startup Center Marks Milestone
Launched in July 2024, the Global Startup Center has quickly become a central hub for foreign founders. In its first year, it welcomed over 7,000 entrepreneurs from 100 countries, solidifying Korea’s role as a regional base for global startups.
MSS also highlighted its K-Scouter initiative and foreign founder support programs, which together have helped discover and attract more than 140 promising overseas startups to Korea in the past year
Alongside the anniversary, Korea’s Ministry of SMEs and Startups opened the Global Startup Office (GSO) — a 69-seat co-working space located adjacent to the GSC — designed to help foreign startups establish stable roots in Korea.
Lim Jung-wook, Director-General of Startup and Venture Innovation at MSS, stated,
“Over the past year, Korea’s inbound policies have created a foundation for foreign founders to settle and grow. We will continue to ensure that global innovators can enter the Korean market freely, advancing Korea’s rise as a global hub for entrepreneurship.”
Positioning Korea as a Global Hub for Innovation and Entrepreneurship
For Korea’s startup ecosystem, these measures highlight a shift from short-term attraction efforts to long-term integration strategies. By combining visa flexibility, regional startup hubs, and tailored support for global founders, the government is positioning Korea not only as a landing spot for foreign startups but as a place where they can scale into globally competitive companies.
The ambition to foster the first foreign unicorn in Korea underscores a broader goal: transforming Korea into a regional base for global innovation and a central hub for international entrepreneurship.
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