Seoul Mayor Park Won-soon visited Tel Aviv on May 5 to learn about the Israel capital’s venture business policy.
The Seoul city said Mayor Park met with 20 CEOs of Israel’s leading venture startups. Most of them are former Israeli military veterans, who reportedly learned unique technologies during their service in the military.
The mayor said, “Like Israel, South Korea could use the military as a hub for venture companies.” He said the Israel military is a base for training young talent for new technologies.
Israel is famous for being the world’s highest GDP-to-investment rate in venture startups and research and development.
Israel ranks third in the number of companies listed on the U.S. Nasdaq exchange after China and Canada. About 300 global companies, including Google and Apple, have offices in Israel.
Maor Park seeks to foster 10,000 young entrepreneurs for the next-generation industries, including fintech, bioengineering and artificial intelligence.