The inaugural meeting of Korea Cloud Business Cooperative was held at the El Tower in Yangjae-dong, Seocho-gu, Seoul on June 27.
At the event, Bae Hee-sook, chairman of Korea Cloud Business
Cooperative, said, "Technical companies will unite to become unicorn companies. We will work together with companies armed with domestic software (SW) professional technologies to target the market."
Chairman Bae said, "We will target the foreign SW-oriented public market and show the potential of domestic SW enterprises." Her goal is to present a model that will grow together in both domestic and foreign markets, as well as preparing for overseas expansion.
On the cooperative's characteristics, Bae said, "Only venture companies and startups with their own technologies that exclude mid-sized businesses and KOSDAQ companies are eligible to participate in the cooperative. We will enhance their competitiveness with customized support by establishing a system that aligns their technologies.
"As a systemized product, the cooperative will directly participate in ordering. To this end, it maintains operational flexibility. It will expand its strategic partnership by securing various references, creating a successful cooperative model in Korea. If the structure is stabilized, extended governance based on fair distribution of profits will be established based on healthy bargaining power even if it cooperates with large companies or mid-sized IT service companies."
Noting that the cooperative will launch a product promotion strategy to establish identity and raise awareness for the sale of Korean products, Bae said, "Success cases at home and abroad created through union activities will be reported to various media outlets, including YouTube, to raise awareness of Korean products.
"The cooperative will hold regular visiting seminars on technology and business models for potential customer institutions and businesses, including local governments, in cooperation with relevant organizations. It will focus on creating a foundation for technology companies to settle early by providing customized information to customers who are familiar with foreign operations."
On the cooperative's 2019 project, Chairman Bae said, "It will continue to discover differentiated start-ups with technological potential and differentiate products and services to seek opportunities to participate in convergence system projects. It will help individual startups establish themselves in the market early by sharing the exact information they need in the market.
"At the same time, it will help member companies promote their leap into unicorn companies by cooperating with large companies and the government. We will establish a virtuous circle in which successful unicorn companies will drive start-ups again and strengthen continuous participation in new businesses."