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South Korea’s ‘Silicon Valley’ struggles to live up to its global ambitions
South Korea’s Pangyo continues to anchor the nation’s tech economy, though accessibility and competition test its edge.
“Pangyo is absolutely Korea’s most concentrated hub for software, gaming, platforms, and AI,” says Hyoungchul Choi, CEO of Portologics, who founded his company there five years ago. As of a year ago, Pangyo Techno Valley was predominantly home to smaller players, with approximately 91.5% of its companies being small and mid-size businesses, with big tech accounting for just 3.6% and the remaining 4.9% made up of public or government organizations, according to PTV’s official website. Yet a fourth factor — their ability to tell compelling stories to the world — may also prove to be the biggest difference between remaining a regional tech hub and becoming a true global innovation center.
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