INTERVIEW: Purpose-driven innovation is key for K-startups in global market

By Park Sae-jin Posted : January 23, 2025, 15:05 Updated : January 23, 2025, 15:05
(From right) Joo Young-sup, Professor at Seoul National University’s Graduate School of Engineering Practice; Spencer Faust, Director at Sozo Ventures; Melanie Imfeld, Director at Mapbox; Gautam Rao, Investor at GVC Partners; Sam Ha, Professor at UC Berkeley’s Haas School of Business; and Tyler Steinke, Vice President at Productable, participate in a panel discussion during the 1st Global Innovation Growth Summit (GIGS) held at the Versailles Ballroom of the Paris Hotel in Las Vegas on January 6 (local time). AJP Park Sae-jin

SEOUL, January 23 (AJP) - Joo Young-sup, a professor at Seoul National University's Graduate School of Technology Management and former Administrator of the Small and Medium Business Administration (SMBA), shared his insights on the global technology landscape following CES (Consumer Electronics Show) 2025 in an interview with Aju Press (AJP).

Reflecting on the annual tech show held earlier this month in Las Vegas, Joo highlighted the growing emphasis on purpose-driven innovation, calling it a critical strategy for Korean startups to succeed on the global stage.

Joo observed that CES 2025 continued the shift, seen in recent years, from merely showcasing cutting-edge technologies to focusing on their broader purpose. "Since the pandemic, CES has undergone a paradigm shift, moving away from a purely technology-centered showcase to one emphasizing technological innovation for humanity’s sustainability," he said.
 
A visitor participates at a booth operated by SwingRec, an AI-powered golf swing recording solution company, at CES 2025 held in Las Vegas on Jan. 7. AJP Park Sae-jin
"AI has emerged as the cornerstone of this transformation." Joo explained how CES 2023 introduced the concept of "Human Security for All" as part of a larger focus on sustainability. This evolved into AI-centric innovations at CES 2024 and culminated in the commercialization of these technologies at CES 2025. He believes this trend will become increasingly defined, with AI playing a pivotal role in tackling global environmental, social, and economic challenges.

Among the standout technologies at CES 2025, Joo pointed to NVIDIA’s ambitious plans for a "physical AI ecosystem" as a game-changer. "NVIDIA presented a clear mission to improve the world through AI, unveiling new GPUs, AI platform strategies, and personal supercomputers," he said.

Joo cautioned that NVIDIA’s push to dominate physical AI—spanning sectors such as autonomous vehicles, robotics, drones, and heavy machinery—could pose significant challenges for South Korea. "Korea’s core industries are deeply tied to these areas. If we fail to establish an independent physical AI ecosystem, we risk being entirely subsumed into NVIDIA’s ecosystem," he warned. He called for urgent national strategies to ensure Korea’s competitive edge in this space.
 
CES 2025 exhibition halls at the Venetian Expo in Las Vegas on Jan. 7 were filled with visitors and exhibitors. AJP Park Sae-jin
For Korean startups, Joo emphasized the importance of "purpose-driven innovation" to transition from being "fast followers" to global leaders. "Companies need to shift their focus from ‘What’ and ‘How’ to ‘Why.’ Leading with a clear purpose is essential to carving out a leadership position in the global market," he said.

He also stressed the need for comprehensive measures to support startups, including talent development, regulatory reforms, testbed creation, and global marketing expansion. "Despite improvements in recent years, our investment ecosystem is still lacking. We urgently need bold strategies to revitalize the deteriorating investment market," Joo added.

Joo called for a stronger partnership between the government and private sectors to support domestic companies in global markets. "Expanding R&D investments and fostering international research collaborations are crucial for developing globally competitive technologies," he said.

He highlighted the importance of leveraging international platforms like CES to deepen global market understanding and build networks. "We need sustained policies to help Korean companies expand their global customer base and partnerships," Joo noted. He also emphasized the need for a more globalized venture capital system to support these efforts.

Joo concluded the interview by highlighting standout examples of purpose-driven innovation from CES 2025, including Eli Health’s hormone monitoring device, KoderAI’s multi-agent coding system, and Woongjin Thinkbig’s AI-powered reading platform. "These products are excellent examples of how technology can serve humanity," he said. "Our startups must learn to prioritize purpose and mission in their innovations."

[The Korea Press Foundation has contributed to the production of this article content.]
Park Sae-jin

Copyright ⓒ Aju Press All rights reserved.

Related