In the last quarter of 2015, Samsung did not make any records within the top five of the world’s biggest smartphone market: China. Korea, known as an IT market leader, finds itself in a state of crisis. However, throughout Korean society, young people who play an important role in the development of the nation tend to prefer stable jobs due to an ongoing economic depression.
According to the Korean Trade Association, over the last ten years there has been a 70 percent decrease in the number of young people in their 20s to 30s challenging themselves by creating start-ups. It is urgent that the youth be encouraged to try to create their own businesses. While attention is needed, there is a center that provides help to young people trying to create start-ups, and it works with them through the entire process. The Argus met the head of the center, Kim Kwang-hyon, to see what this center provides regarding the current youth start-up issue.

The Argus: Hi, please introduce yourself to The Argus readers.
Kim Kwang-hyon (Kim): Hi, I have been working as the head of the Dream Camp(D.CAMP) center for about a year and two months. I was a reporter of the Korea Economic Daily for 28 years before I came here. Currently, along with being the head of the center, I also share useful information on Twitter and Facebook about various contents.

The Argus: Could you introduce the center of “D.CAMP”?
Kim: D.CAMP is a foundation creator started by banks. The purpose of this center is to inspire enthusiasm amongst young adults for start-ups. It opened in 2013 and has had a large impact on the start-up ecosystem. There are people who are preparing to launch a start-up, and they meet with investors at D.CAMP. Also, we hold many events for young people to gain information. Even the government officials came and began benchmarking our progress. Soon after, the government created 17 innovation centers in Korea. This kind of act had never occurred before D.CAMP was created, so it is right to say that our center has greatly affected the start-up ecosystem.

The Argus: Could you tell us briefly about the programs that D.CAMP is providing?
Kim: First, everyone who registers for a membership is allowed to use the cooperative space on the fourth floor. There are computers, printers, and a conference room that allow people to work freely with whatever they need.
Also, there are living facilities on the fifth floor. To use these facilities, innovators have to achieve a good result on “D.DAY.” Generally 50 teams apply for this event that is hosted once a month. One or two teams are selected during the event for access to the fifth floor. Once selected, we promote their start-up, help to expand the business, and offer teams a chance to meet with investors. Another program is called “D.PARTY” and it is ran privately. Each time, one type of traditional enterprise comes to an event to give a presentation about their innovative service and also to network. Lastly, there is time called “D.TALKS” provided for communication with senior entrepreneurs and “D.MATCHING” a matching program between job seekers and outstanding start-ups. We support them to grow, and when they are big enough to operate on their own, they finally leave our center full of hope.

The Argus: Could you tell us how you started working as the head of the center?
Kim: Formerly I worked online, which gave me a grasp of domestic and overseas trends. Currently, including Silicon Valley, the whole world is feeling the trend of the start-up boom, and I think it is not a temporary thing but a big change. In many business divisions, innovation is arising from here to there. This situation is a proof of a big industrial revolution, and it is affecting the industry as a whole. I think it is a priceless experience for me to help these young people who are eager to bring about innovation. D.CAMP is improving infrastructure, such as creating a link to venture capitals and global partners. And if my duty is to do so, the reason why I came here is that I have been observing trends and understanding start-up culture, which assists me in my duties here.

The Argus: What are the selection standards and the process for the members that get support?
Kim: As I said, the fourth floor’s cooperative space is open to everyone registered as a member. As far as supporting businesses is concerned, we offer support to the teams we think have promise. We select about 12 teams on a regular basis and give them designated seats. Members normally prepare for about three to six months while receiving supports from us. During such preparation, they give a presentation about their product and get continual appraisals from the experts to make sure they are ready to enter the market. All presentations take about two hours to be delivered, and after that a decision is made as to who will get full support from the center based 80 percent on the opinion of experts and 20 percent on opinions of the young entrepreneurs present. The winner gets a MacBook for prize and is placed in the hall of fame. Additionally, the winning team gets to enter the living space. For those who get into the fifth floor, the living space, seed money is made available with direct and indirect support from us.
Regarding the selection standards, it is all about how promising and bright the start-up product is. Through a thorough evaluation we pick ones that we think will be ground-breaking products.

The Argus: What are the present conditions within the start-up ecosystem and could you tell us about a successful case?
Kim: There are many successful cases. To talk about one, a car wash agency was here just about a week ago and they left. They won last year’s July “D.DAY” event, and they were here for seven months to prepare their business for the market. This service is for people who are too busy to get their car washed and inspected. With only a few clicks on a smartphone application, a car manager shows up, provides all the car services requested and puts the car back where it was. This business can be done for any and all services related to cars. Currently, its business is expanding in the Gangnam area.
There is an another company preparing a service in the manner of a fashion platform called “hot sauce.” Its purpose is to connect Chinese merchants and Korean designers so that they can sell their clothes directly. This system targets the Chinese market in particular. Starting this month, the clothes sold at Garosu-gil Road of Sinsa-dong will be ready for sale in China.

The Argus: What do you think is the threshold for supporting business?
Kim: I personally think that rather than what D.CAMP is providing for the young entrepreneurs, the government’s business support has reached its breaking point. Korea’s dark ages for start-ups lasted for a very long period, so it is good to see that the government is trying. However, jumping into a start-up is about being smart enough to pick out the good products and to let go of things that do not seem promising. The government’s economic support is unconditional. They do not distinguish between good and bad. If the ones that are not promising get support but fail, they end up not only losing money but also precious time. Therefore, distinguishing between the good and the bad when selecting a team to support is important.

The Argus: What is the last thing you want to say to the youth?
Kim: I think a business start-up is very difficult, so I would not suggest young people to jump into this industry. But if you are ready and interested enough, it is right to challenge yourself. You only have one life to live, and even if you get into major companies, you have to retire at some point in your life.
I hope students know there are more ways to make a living besides joining a major company or being a government employee. The world is changing and if we do not keep up with those transitions, we will be left behind. If we do not make an innovative change, we will have to use Alipay and Tesla cars.
I think it is a matter of when you are going to start your foundation. If you have to, then why not start earlier?

As we can see and feel everywhere, the preference for stable jobs is rising due to the economic depression. Even if young people know there are various roads in our lives to walk on, not many are willing to try. But it is our job to make it work, and it is essential to know that there are a lot of programs and support ready to be given to the youth.