The Korea Conference, a bridgehead for innovative startups from South Korea to the U.S., is now in its third year. This year’s event, which will take place on a yacht in Marina Del Rey on August 23, will feature startups with some of the most promising innovations from South Korea in recent years. The Korea Daily will again be participating as a media sponsor this year.
The conference’s founder, Jenny Chu, is an investment banking veteran with nearly 30 years of experience at UBS, Morgan Stanley, and JPMorgan. She is also the Head of Global Investments at Boar’s Club and the founder of Family Office, which manages the assets of the world’s richest 1% of families.
With a dense network of connections in the world of investment and other industries, Chu explained why she founded and continues to organize the Korea Conference every year, even having to use her personal funds.
What are your thoughts on hosting the third year of the event?
“Even though the economy is in a bad state and the investment industry is not as active as it used to be, I started the event with a sense of mission because we didn’t start this organization for short-term results. We’ve had a lot of help from people around us along the way, and we’ve been able to grow quickly in such a short period of time because we have a great group of advisors, which is unusual for a new conference.”
Could you introduce us to the advisory board that helped the Korea Conference accelerate its growth?
“They’re a tough bunch to get together. José E. Feliciano, owner of the English Premier League’s (EPL) Chelsea Football Club; Jason Cowett, co-founder of Odyssey, a global investment firm specializing in aerospace; Tom Lawrence, chairman of The Eden Club, an exclusive membership for the world’s wealthiest; Prince Lorenzo Medici of the Medici family of Florence, Italy; and Michael Riady, advisor to Indonesia’s national company, Lippo Group.”
The public often inquires about the invitation-only event.
“This year, we will continue to host the event with companies and investors by invitation only. It’s a strategy to keep the event efficient and focused. As a new conference, it’s not about the size, it’s about the results, such as attracting investment.”
Will there be different features at this year’s event compared to past years?
“The Korea Conference is growing every year. This year’s highlight would be the launch of the MDR Club. It’s an acronym for Marina Del Rey, where we’ve held the event every year. The MDR Club is a group of companies that participated in the previous year’s event to share their experiences and mentor those attending the year after.”
Explain to us the significance of MDR’s launch.
“From the very beginning, we knew that for Korean startups to succeed in the U.S., we needed to do more than just introduce them. It’s important to create a virtuous ecosystem where startups help each other. The Israel conference, which the Korea Conference benchmarked, was also successful because the American Jewish community and Israeli tech companies created such a system. So, I think the Korea Conference’s launch of the MDR Club is a significant step forward. We are planning to launch the MDR Club at the Riviera Country Club in the Pacific Palisades on August 22, the day before the event.”
Introduce us to the startups that are participating this year.
“Five Korean companies with brilliant innovations are participating this year: OurBox, a startup that will revolutionize the logistics industry; Asleep, which analyzes sleeping patterns using only a smartphone microphone; The2H, which is creating ultra-immersive virtual reality; Beyond Music, a content technology startup; and Mvitro, which is known for innovative blood glucose testing technology.”
What were the criteria for selecting them?
“It wouldn’t be an exaggeration to say that I spent the whole past year selecting startups. We met with dozens of companies, listened to their visions, and went through a rigorous qualification process. There are many criteria, but the most important thing we look for is the humanity of the founders. No matter how good the technology is, it’s the people who turn it into a business and lead the company. Taking a lot of time and effort to verify these aspects, I now feel each participating company is like my child. This makes me feel responsible for the global expansion and development of Korean startups.”
What would you like to say to companies that are willing to participate in the Korea Conference?
“I think a startup can succeed only when they have a clear vision and the ability to execute. I keep emphasizing that leadership and a healthy organizational culture are the most important foundation in making this happen. If you have a team working towards the same goal, the results will follow.”
BY WONHEE CHO, HOONSIK WOO [cho.wonhee@koreadaily.com]
