Seoul Business Agency(SBA)

What Seoul Business Agency(SBA) does

Seoul Business Agency (SBA, 서울경제진흥원) is a quasi-governmental public organization established on March 31, 1998, and currently operating as Seoul Metropolitan Government's designated investment-funded institution (출연기관) for startup promotion and SME support. Headquartered at 400 Worldcup Buk-ro, Mapo-gu (DMC area), Seoul, with 101-250 employees, SBA operates a multi-brand ecosystem spanning seven functional categories: startup incubation (Seoul Startup Hub at Gongdeok/Seongsu/Dongjak, Scale-up Center in Gangnam, Startup Plus portal); global marketing (Global Marketing Center, S-Live Studio, overseas trade-fair pavilions); talent development (SeSAC across 25 Seoul campuses, Sangsangbiz Academy); beauty and fashion (B the B at DDP, DDP Showroom, Seoul Urban Manufacturing Hub); content and gaming (Seoul Game Contents Center, Seoul E-Stadium, SEOULCon, SPP); industrial hubs (DMC Hi-Tech Industry Center, DMC R&D Center, SETEC, Magok M+, G-Valley Startup Cube); and innovation programs (Testbed Seoul, Seoul Innovation Challenge, Try Everything, Kitchen Incubator).

Its business model is government appropriation–led rather than commercial: annual public budgets fund SBA's program operations while parallel revenue streams include venture fund management (Seoul City Fund, SBA Fund) and program-specific support grants ranging from ~10 million KRW per K-beauty startup to 140 million KRW per Hoban Next Startup Contest winner. SBA acts as a platform coordinator connecting Seoul-based startups and SMEs to capital, corporates, talent, international markets, and government resources. Named partners in 2026 include LG Household & Health Care (K-beauty, Apr 2026), Hyundai E&C (construction-safety AI, Jan 2026), Naver Cloud (Try Everything 2026), Hoban Group (smart city, Mar 2026), and a roster of 12+ large corporations at Seoul Open Innovation Partners Day.

Under CEO Kim Hyun-woo (inaugurated November 2, 2021, Doctorate in Entrepreneurship from Chung-Ang University; former Asia Economics TV CEO and Boston Startup Investment CEO), the agency has supported 25,089 companies cumulatively, contributed to 9,547 jobs created, and driven ₩824.5 million in incremental corporate sales. At CES 2026, SBA-backed startups won 17 Innovation Awards including 1 Best of Innovation Award (Studio Lab) — the highest ratio globally per CEO Kim. Operations span 13 international target countries across Middle East, Europe, and Southeast Asia, with direct programs at CES Las Vegas and Viva Tech Paris and a seven-country Global Innovation Forum.

Name

Seoul Business Agency(SBA)

Legal name

Seoul Business Agency (서울경제진흥원)

Website

https://sba.seoul.kr

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

101–250 employees

Short description

Seoul Business Agency (SBA) is the Seoul Metropolitan Government's quasi-governmental organization funding and operating a comprehensive startup and SME support ecosystem — including Seoul Startup Hub, 25 SeSAC education campuses, Global Marketing Center, and CES/Viva Tech pavilions — to promote Seoul-based entrepreneurship, talent development, and global market expansion.

Ownership category

akta.pro rank

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices40 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Government Appropriation and Public Funding: SBA is a Seoul Metropolitan Government-funded public organization (investment-funded institution) that receives annual government appropriations to fund its startup incubation, SME support, and industry development programs. Revenue is derived from public budgets allocated for economic revitalization, job creation, and SME growth initiatives.
2. Venture Fund Management: SBA and its affiliated entities manage venture capital funds including the Seoul City Fund and SBA Fund to invest in innovative companies. LG Household & Health Care has invested through domestic funds such as IBK Capstone K-Unicorn Investment Association and global funds including Alliance Consumer Growth Fund V-A, L.P. since 2023.

Go-to-market motion1 record

Distribution channels9 records

Marketing channels10 records

Core offering

Seoul Business Agency (SBA) is Seoul Metropolitan Government's designated investment-funded public agency that delivers end-to-end startup and SME support services, including startup incubation through Seoul Startup Hub campuses, investment facilitation and venture fund management, domestic and international marketing through the Global Marketing Center, R&D and intellectual property support, open innovation matching between large/medium enterprises and startups, free software/digital talent training via 25 SeSAC campuses, and event platforms such as CES Seoul Pavilion, Try Everything festival, and SEOULCon. Its programs are government-funded and delivered free or at subsidized rates to eligible Seoul-based SMEs, startups, and job seekers.

Product overview

Seoul Business Agency (SBA) operates as a comprehensive business support ecosystem rather than a single unified product. The portfolio consists of interconnected platforms and programs organized across seven main categories: (1) Startup Incubation via Seoul Startup Hub (with Gongdeok, Seongsu, Dongjak campuses), Seoul Startup Hub Scale-up Center, and Startup Plus portal; (2) Global Marketing via SBA Global Marketing Center, S-Live Studio, Seoul Awards certification, and overseas expansion programs; (3) Tech-Education via SeSAC with 25 Seoul campuses offering software and digital transformation training; (4) Beauty & Fashion via B the B, DDP Showroom, Seoul Urban Manufacturing Hub, and RUNWAY TO SEOUL; (5) Content & Gaming via Seoul Game Contents Center, Seoul E-Stadium, Sangsangbiz Academy, Content Factory, SEOULCon, SPP, and Game E-sports Seoul; (6) Industrial Hubs via Digital Media City, DMC Hi-Tech Industry Center, DMC R&D Center, SETEC, Magok Industrial Complex, G Valley Startup Cube, Seoul Startup Hub M+ Magok, and Testbed Seoul Demonstration Center; and (7) Innovation Programs via Seoul Innovation Challenge, Seoul Testbed Initiative, Try Everything, Kitchen Incubator, and international trade show pavilions (CES Seoul Pavilion, Viva Tech Seoul Pavilion). SBA functions as a platform operator facilitating startup growth, corporate development, and global market entry for Seoul-based SMEs.

Differentiator

Problem solved

Functional benefit

Brands

• Seoul Startup Hub: A comprehensive startup incubation and acceleration platform operated by SBA, featuring specialized centers at Gongdeok, Seongsu, and Dongjak locations, providing investment matching, global expansion support, and open innovation programs
• SeSAC (Seoul Software Academy)
• B the B (Be the Beautiful)
• Global Marketing Center
• DDP SHOWROOM
• Seoul Urban Manufacturing Hub
• Sangsangbiz Academy
• SPP (Seoul Promotion Plan)
• Try Everything
• Seoul Awards
• SeSAC
• Seoul Innovation Challenge
• Seoul Film Center
• Testbed Seoul
• SEOULCon
• Hyun Woo Kim
• Seoul Intellectual Property Center
• Seoul R&D Support Center
• G Valley
• DMC (Digital Media City)

Products and services

• Seoul Startup Hub
• Seoul Startup Hub Scale-up Center
• Startup Plus
• Seoul Awards
• SeSAC (Seoul Software Academy)
• B the B (Be the Beautiful)
• DDP SHOWROOM
• SBA Global Marketing Center
• S-Live Studio
• Seoul Intellectual Property Center
• Seoul Innovation Challenge
• Seoul Testbed Initiative
• SPP (Seoul Promotion Plan)
• SEOULCon
• Seoul Game Contents Center
• Seoul E-Stadium
• Sangsangbiz Academy
• Content Factory
• DMC Hi-Tech Industry Center
• DMC R&D Center
• SETEC
• Testbed Seoul Demonstration Center
• XR Co-Working Office
• G Valley Startup Cube
• Seoul Startup Hub M+ Magok
• Seoul Urban Manufacturing Hub
• Try Everything
• Kitchen Incubator
• Hi-Seoul Company Certification
• Seoul Film Center
• Game E-sports Seoul (GES)

Quantifiable outcome

• 17 CES Innovation Awards including 1 Best of Innovation Award at CES 2026, the best ratio globally according to SBA CEO Kim Hyun-woo
• +5 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

29 partnerships are on record, tiered core and minor.

• Naver CloudcoreTechnology or Integration · 28 May 2026Seoul Metropolitan Government and SBA's 'Try Everything 2026: Seoul Unicorn Challenge' includes linkage with the Naver Cloud Greenhouse support program for finalists. Finalists gain access to IR pitching opportunities, media/PR support, and Naver Cloud Greenhouse benefits including technology and business development resources.
• LG Household & Health CarecoreStrategic or Co-development Partner · 9 April 2026LG Household & Health Care signed an MOU with SBA on April 9, 2026 to jointly discover and nurture K-beauty and wellness startups through the Seoul Startup Hub Lifestyle Open Innovation Program. Selected startups receive ~10 million KRW in funding, joint research opportunities, and overseas expansion assistance leveraging LG H&H's global networks. The initiative aligns with LG H&H's science-based beauty and wellness strategy and strengthens its future growth pipeline.
• Seoul Metropolitan GovernmentcoreStrategic or Co-development Partner · 1 April 2026Seoul Metropolitan Government and SBA jointly recruit Seoul-based game companies to participate in major international and domestic game markets (China Joy, BIC, G-Star) in 2026, supporting overseas market entry and global K-game expansion. Previous successful participation in Tokyo Game Show and G-Star.
• Korea Electronics and Telecommunications Industry AssociationminorStrategic or Co-development Partner · 1 April 2026Partner providing verification evaluations for SBA's XR technology development and convergence production support programs. The Technology Development Support Project selects 10 companies with up to 30 million KRW each, while the Convergence Production Support Project selects about 6 consortia with up to 50 million KRW each.
• 123 FactoryminorStrategic or Co-development Partner · 19 March 2026One of 10 partner institutions in the Seoul Startup Hub Gongdeok Global Expansion PoC/Scale-up/Accelerating Program, recruiting ~60 Seoul-based companies for global market entry across 13 countries in the Middle East, Europe, and Southeast Asia.
• HEC ParisminorStrategic or Co-development Partner · 19 March 2026One of 10 partner institutions in the Seoul Startup Hub Global Expansion program, providing business commercialization support and local PoC opportunities for Seoul startups entering global markets.
• Big ImpactminorStrategic or Co-development Partner · 19 March 2026One of 10 partner institutions in the Seoul Startup Hub Global Expansion program.
• Unicorn IncubatorminorStrategic or Co-development Partner · 19 March 2026One of 10 partner institutions in the Seoul Startup Hub Global Expansion program.
• FPT Group (Vietnam)minorStrategic or Co-development Partner · 19 March 2026Vietnam-based technology company that signed a partnership with Company TR (Seoul Startup Hub alumnus) for its Spirokit respiratory screening device, enabling market entry in Vietnam.
• AstraZeneca VietnamminorStrategic or Co-development Partner · 19 March 2026Vietnam branch of AstraZeneca partnered with Company TR (Seoul Startup Hub alumnus) for its Spirokit respiratory screening device, providing healthcare market access in Vietnam.
• Hoban GroupcoreStrategic or Co-development Partner · 17 March 2026Seoul Startup Hub open innovation program participant seeking startups in construction automation and digital infrastructure. Hoban Group is one of 6 large and medium enterprises participating in the program for technology verification, investment, and grants.
• FincantiericoreStrategic or Co-development Partner · 17 March 2026Seoul Startup Hub open innovation program participant seeking startups in shipbuilding and related sectors for technology verification and investment.
• NH Nonghyup BankcoreStrategic or Co-development Partner · 17 March 2026Seoul Startup Hub open innovation program participant seeking fintech startups for technology verification and investment.
• Shinhan Financial GroupcoreStrategic or Co-development Partner · 17 March 2026Seoul Startup Hub open innovation program participant seeking fintech and AI startups for technology verification and investment opportunities.
• Hyundai Home ShoppingcoreStrategic or Co-development Partner · 17 March 2026Seoul Startup Hub open innovation program participant seeking retail/technology startups for proof-of-concept collaborations.
• Samsung WelstorycoreStrategic or Co-development Partner · 17 March 2026Seoul Startup Hub open innovation program participant seeking food and distribution startups for technology verification and investment.
• SK ecoplantcoreStrategic or Co-development Partner · 10 March 2026Large corporation presenting startup collaboration strategies and investment priorities at Seoul Open Innovation Partners Day on March 10, 2026. One of 12 large corporations participating in the event series (up from 10 in the previous year).
• Samsung C&TcoreStrategic or Co-development Partner · 10 March 2026Large corporation presenting startup collaboration strategies at Seoul Open Innovation Partners Day 2026.
• NAVER CloudcoreStrategic or Co-development Partner · 10 March 2026Large tech company presenting startup collaboration strategies and investment priorities at Seoul Open Innovation Partners Day 2026. Also linked with SBA for the Naver Cloud Greenhouse support program for Try Everything 2026 finalists.
• Seoul Open Innovation Partners Day corporationscoreStrategic or Co-development Partner · 10 March 202612 large corporations participated in Seoul Open Innovation Partners Day on March 10, 2026 at COEX complex, presenting startup collaboration strategies for 2026. Event is part of the Seoul Open Innovation Day series planned 5-6 times throughout the year. Expands from 10 to 12 participating companies from the previous year.
• Hoban GroupcoreStrategic or Co-development Partner · 6 March 2026Hoban Group co-hosts the 2026 Hoban Next Startup Contest with the Ministry of SMEs and Startups, KISED, and SBA. The contest targets smart city fields including construction automation, digital infrastructure, energy/ESG, and AI. Four companies will be selected with up to 140 million KRW in commercialization support, technology testbed access, workspace, and global market entry assistance. Since 2020, Hoban Group has supported 62 winning companies.
• Ministry of SMEs and StartupscoreStrategic or Co-development Partner · 6 March 2026Co-host of the 2026 Hoban Next Startup Contest, providing government-level support and TIPS-linked private investment pathways for winning startups.
• KISED (Korea Institute of Startup & Entrepreneurship Development)coreStrategic or Co-development Partner · 6 March 2026Co-host of the 2026 Hoban Next Startup Contest, providing startup development expertise and resources.
• Hyundai E&CcoreStrategic or Co-development Partner · 14 January 2026Hyundai E&C signed an MOU with SBA, Seoul Center for Creative Economy & Innovation, and KICT on January 14, 2026 to jointly discover and foster construction safety innovation companies. The partnership aims to prevent safety accidents at construction sites through AI CCTVs, construction robots, and safety education platforms. The 2026 H-Safe Open Innovation Challenge is Korea's first open innovation program focused on construction safety.
• Seoul Center for Creative Economy & InnovationminorStrategic or Co-development Partner · 14 January 2026Partner in the MOU with Hyundai E&C and KICT for the construction safety open innovation challenge.
• KICT (Korea Institute of Construction Technology)minorStrategic or Co-development Partner · 14 January 2026Partner in the MOU with Hyundai E&C and SBA for the construction safety open innovation challenge, providing technical expertise in construction technology.
• Taiwan Tech Arena (TTA)coreStrategic or Co-development Partner · 6 January 2026Taiwan's startup support organization co-hosting the Global Innovation Forum at CES 2026, part of the 7-country collaboration including South Korea, Taiwan, Switzerland, Israel, Japan, Canada, and France. Hua Tech International (represented by TTA) won the Scale-up Award at the forum.
• Startup support organizations from Switzerland, Israel, Japan, Canada, and FrancecoreStrategic or Co-development Partner · 6 January 2026Seven countries collaborated at the Global Innovation Forum at CES 2026, co-hosting the first country-based startup competition and networking program at the world's largest consumer electronics exhibition. Organizations from Switzerland, Israel, Japan, Canada, and France joined SBA and TTA. The forum featured an IR pitching competition judged by 20 global media representatives and 6 venture capital professionals.
• Quebec Government Office (Canada)coreStrategic or Co-development Partner · 6 January 2026CubicSpace (represented by Quebec Government Office) won the Impact Award at the Global Innovation Forum 2026 at CES. One of the 7-country collaboration for the cross-national startup showcase.

Scale indicators15 records

Recent moves20 records

Expansion highlights6 records

Direct peers

• Korea Creative Content Agency (KOCCA): Government agency under the Ministry of Culture, Sports and Tourism supporting Korea's content industry including gaming, animation, webtoons, music, and film. Direct peer in SBA's Game Contents Center, Seoul E-Stadium, SPP, and SEOULCon functions.
• Seoul Center for Creative Economy & Innovation (SCCEI): Seoul Metropolitan Government-affiliated creative economy innovation center partnered with SBA on construction safety open innovation (Hyundai E&C MOU 2026). Closely comparable peer focused on innovation ecosystem building within Seoul.
• Invest Seoul: Seoul Metropolitan Government's official FDI promotion agency, attracting foreign investment to Seoul and supporting Seoul-based companies' global expansion. Closely related peer operating under the same Seoul city government umbrella as SBA, with overlapping investor relations and international promotion functions.
• Korea Institute of Startup & Entrepreneurship Development (KISED): National quasi-governmental agency focused on startup policy execution, entrepreneurship education, and ecosystem development. Co-hosts programs with SBA (e.g., Hoban Next Startup Contest) and operates overlapping startup support, incubation, and global expansion functions.
• Korea SMEs and Startups Agency (KOSME / 중소벤처기업진흥공단): Korean national government agency under the Ministry of SMEs and Startups, providing financing, marketing, and global expansion support to SMEs and startups nationwide. Direct peer to SBA with overlapping programs (TIPS, open innovation, global expansion) but with a national rather than Seoul-only mandate.

Broad incumbents

• Korea Trade-Investment Promotion Agency (KOTRA): South Korea's national trade and investment promotion agency, operating KOTRA's global network of trade centers. Comparable to SBA's Global Marketing Center functions but at much larger national scale and with broader export/import mandate.
• JETRO (Japan External Trade Organization): Japanese government-related organization promoting trade and investment between Japan and the rest of the world. International peer analogous in role to SBA's Global Marketing Center, supporting SME internationalization with a larger national budget and broader mandate.

Regional players

• Busan Economic Promotion Agency (BEPA): Busan Metropolitan City's municipal investment institution analogous to SBA — providing SME support, startup incubation, export marketing, and industry promotion for the Busan region. Comparable in structure and mandate but serving a different Korean metropolitan geography.
• Gyeonggi-do Business Center (GBC): Gyeonggi Province's principal SME and startup support organization providing incubation, training, export, and tech commercialization programs. Regional peer to SBA with overlapping scope but centered on the larger Gyeonggi Province market surrounding Seoul.
• Daegu Technopark (DTP): Daegu Metropolitan City's technopark supporting SMEs and startups in advanced manufacturing, IT, and bio sectors. Regional peer with similar public-institution structure and SME/startup support mandate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCnlsUjwpgvS8DmWXfzt9G8Q
• Facebookfacebook.com/newSBA.Seoul
• Instagraminstagram.com/sbaseoul

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments73 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Seoul Business Agency(SBA)