Is 100 million won a lot in Korea?

As an entrepreneur in Korea, I often encounter foreigners seeking assistance to navigate the complexities of starting a business in this country. The financial hurdle of raising and bringing 100 million won (equivalent to approximately 72,000 USD) to Korea can be daunting for many.

The reality is that this amount, while substantial, is a significant investment and could serve as excellent seed money for launching a business in various parts of the world. The challenge lies in the fact that many aspiring entrepreneurs may not possess such a significant amount of capital readily available.

Consequently, the decision to embark on a business venture in Korea becomes a strategic choice, particularly for those who may not have the financial luxury to start elsewhere. It highlights the need for careful planning, risk assessment, and a solid business plan to justify the investment.

One aspect of the Korean startup ecosystem that can be appealing to foreign entrepreneurs is the availability of services and support networks tailored to assist international businesses. These can range from language translation services to market research and networking opportunities.

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