The Gyeonggi Creative Economy and Innovation Center (hereafter GCEIC), run by KT Corporation, has seen its legal services program running aground even before getting off the ground.
On March 30, KT opened the GCEIC in Pangyo so as to support venture firms specializing in the convergence of IT with culture, finance, health and etc.
“We are here today to mark the 100th day since the inception of the Gyeonggi Creative Economy and Innovation Center, which has been faithfully serving as a hub for start-ups hoping for global expansion,” KT Chairman Hwang Chang-gyu said at the 100th day event held on July 2 at the GCEIC. “Until Korean start-ups become “K-champions,” KT will spare no efforts in offering its knowhow and access to its infrastructures,” Hwang added.
However, The Korea IT Times found out that the GCEIC’s legal services program, billed as the first and only free legal services program, provided by a large law firm, was temporarily closed. Though some other programs were available at the GCEIC, they were offered by other institutions, not by the GCEIC itself.
The GCEIC posted a notice saying; “We have signed a work agreement with Korean law firm Taepyeongyang. Thus, pro bono legal services for venture firms will be available starting from June. The pro bono legal services are on offer every Thursday afternoon from June and December.”
Yet, The Korea IT Times learned that not a single venture firm had visited the GCEIC to use the pro bono legal services program.
According to a lawyer at Taepyeongyang, no one showed up for pro bono legal assistance for the first two weeks.
“No one had showed up for free legal advice on the first day and throughout the second week. So I don’t go there any more,” the lawyer told The Korea IT Times on the phone.
In response to this, a GCEIC official said, “We are scaling up our PR activities to help venture firms make the most of the program.” However, Taepyeongyang mentioned, “Taepyeongyang and the GCEIC are discussing other ways to promote the program, such as the provision of free legal assistance on Fintech Demo Days.” As the program continued to go nowhere, the GCEIC changed the program to a reservation-based one, only to see no one seeking free-of-charge legal advice to date.
An education program, designed to teach businesses how to enter overseas procurement markets, was held in May by the Public Procurement Service (PPS), not by the GCEIC. The GCEIC said,” It’s true that we simply served as a venue for the program.” Therefore, many point out that the GCEIC, aimed at nurturing venture firms and facilitating their entry into overseas markets, has been simply offering a place for other institutions’ programs.
In fact, it is almost impossible for a start-up to break into an overseas procurement market. According to the PPS, turnout for the program was very disappointing: a mere 30 attendees.
The PPS has been holding the education program annually. The PPS had decided to hold the program twice this year: first at the GCEIC in the first half and second at the Daegu Creative Economy Innovation Center in the second half.
“We chose the GCEIC as the venue for the program after we learned that the GCEIC had finally opened. Generally, the education program for Gyeongsangnam-do takes place at our education center in Gimcheon. The Daegu Creative Economy Innovation Center is open now, so we've decided to hold the program in Daegu,” a PPS official mentioned.
Consequently, many point out that Creative Economy Innovation Centers nationwide are turning into nothing but suppliers of conference venues and meeting rooms.
As for the GCEIC’s bungled programs, the GCEIC had thrown up varied programs so hurriedly in the run-up to its 100th day event that many of its glossy plans, people criticize, are far from “creative.”
