First settlement at the InSaar EU Hub announced at meeting of Korean start-ups in Saarland

The 2nd camp of the InSaar EU Hub - a program for Korean start-ups founded in the summer by gwSaar and KIST Europe - will take place in Saarbücken from 21 to 24 November. The aim is to continue the discussions on settling in the country and international networks.

The programs first success: the establishment of the start-up Mapsea at KIST Europe (Korean Institute of Science and Technology) today. Mapsea is developing a unique navigation system for sea travelling. The system promises to minimize the risk of accidents and collisions by mapping the current situation, including all sources of danger at sea and in port facilities. The application could be a revolution for ship navigators, who still have to rely on their sight.

"Korea is an up-and-coming start-up nation. There is enormous potential for innovation here. I am therefore delighted that we are achieving initial success with our program. I am convinced that with InSaar we offer a unique and attractive opportunity for Korean start-ups. Korea is undoubtedly a special partner for Saarland and we look forward to further cooperation," says Minister of Economic Affairs Jürgen Barke.

"We are delighted with the initial success of the InSaar EU hub. Thanks to the good IT and innovation landscape in combination with the joint consulting services, Saarland has a good chance of becoming a bridgehead for Korean start-ups in Germany. We are therefore already working on a continuation of the program next year," adds Thomas Schuck, CEO of gwSaar.

"Saarland is an extremely friendly place for Korean companies. The advice and support we receive from gwSaar and iPartners, the excellent research and business landscape, the international network and the infrastructure at InSaar can't be found anywhere else. We see this as a guarantee for the success of our European branch," explains Jisoo Kim, founder and CEO of Mapsea.

The other participating start-ups also stand for innovative products: They range from therapeutic approaches for retinal diseases, to films that switch between opaque and transparent depending on the situation, to IT solutions that promise companies cost savings when using the cloud.

"The start-up camp has two main focuses: The start-ups intensify their business contacts and explore start-up opportunities in Saarland. The Industrial Bank of Korea has consistently rated the work of the InSaar program positively, meaning that two camps are to be held in Saarland every year in the future. This will significantly increase the attractiveness of Saarland for young Korean companies," says Ted Kim, CEO of iPartners and representative of gwSaar.