1、Reddal Korea deep tech reportJune 2025 Reddal Inc.This material is Reddal proprietary.Innovative Korea:Deep tech ecosystem growth for building an innovation-driven,resilient economy in a new global eraAuthorsForewords Reddal Inc.This material is Reddal proprietary.2Hankyeol LeeLead,Venture Capital a

2、nd Private Equity PracticeWeike LiangBusiness AnalystJiyoon KimBusiness AnalystPer SteniusSenior Client DirectorWhen we at Reddal first visited Seoul in 2011,South Korea stood with a track record bar none.It had performed a miraculous transformation from a war-ridden country to a modern developed na

3、tion and had a stellar growth record.No surprise then that we decided to open our Seoul office the following year,in 2012.However,the second decade of the new millennium brought new challenges to South Korea.Growth was slowing down,the challenge from China was felt increasingly in many industries,an

4、d the era of industrial policies set by the government seemed to grind to a halt.Presidential commitments to first green technology and then creative economy did not really change the trajectory.Increasingly Korea was facing challenges that are common of developed nations demographics and aging,grow

5、ing inequality,and increasingly cautious corporations focusing more on stability than aggressive growth.And as in the past,SMEs and startups continued to remain marginalized.These challenges reminded me very much of my home country,Finland.In Finland,the collapse of Nokia brought a massive change to

6、 the business ecosystem and helped to build a new and active startup ecosystem that became internationally recognized.Could the same happen in South Korea?It was with these thoughts we at Reddal decided the launch the Korea Deep Tech project.We wanted to gauge the state of Korean bleeding edge innov