The Korea International Trade Association (KITA) opened up a center to help start-ups go global on June 4, 2019. 

There are limitations for local companies that just focus on the domestic market. While there are many programs out there for start-ups by different institutions, KITA will focus on sharing the overseas networks to help start-ups go global and scale-up their business.

The center will not only be an incubating center, but also an open venue for start-ups to pitch ideas and consult with conglomerates, expert groups and regulators so they can get the right help they need for starting overseas businesses. The 250-pyeong (8,896-square-foot) center consists of shared office space and meeting rooms as well as a pitching hall for start-ups to pitch ideas to investors.

On the opening day, luxury brand Chanel held meetings with 13 local start-ups at the center looking for innovative partners to collaborate with. The 13 start-ups were selected by Chanel among some 100 start-ups KITA recommended and earned the opportunity to pitch their ideas. And KITA is planning to match more companies from the Fortune 500 list with local start-ups.