1314T2g1 South Korea/Participant Information/Lee Xiang Rui/DuringTrip
Annyeong Haseyo, 안녕하세요! We have safely landed in Korea, the land of Kimchi! Today was a crazy and hectic day! We visited Twinword and Lasso at Smart Content Centre in the morning and later KBS in the afternoon. I will have to say, it is definitely a very interesting and eye-opening experience for me.
Twinword
CEO Kim is very nice to share about his start-up, Twinword, which is incubated by the Smart Content Centre. Twinword focuses on collecting how people associate concepts in mind offering education, game, and search experience. It is a very interesting concept and can be used in many scenario. Twinword generate revenue by providing API services, profit sharing and lastly their very own services. What has left me the deepest impression is the assistance given by the Korea government. The Korea government has given Twinword USD $300,000 worth of seed fund unconditionally. No equity is taken. I repeat, NO EQUITY IS TAKEN BY THE GOVERNMENT. This is something that is not seen in Singapore. I am amazed by the unwavering support given by the Korea government to these new start-ups. It might be because SMEs are difficult to make a mark in Korea as the market is controlled by local giants like Samsung and LG.
