New Opportunities Created by the Coronavirus Pandemic in Korea

Some of the tech trends that came due to the global impact of the coronavirus pandemic in Korea are obvious. This includes video conferencing, ed-tech, telehealth, and eCommerce which have seen massive growth in Korea from 2020-2021. However, the bigger story and the longer-term story in Korea are in regard to how Koreans will live and how they will work. No one knows how things will change in Korea in 2023 and beyond, especially when it comes to hybrid working and entrepreneurship. However, what we do know is that the innovation landscape in Korea will look quite different 10 years from now due to the impact of COVID-19. 

New Opportunities Created by the Coronavirus Pandemic in Korea

Global Networking

Due to the coronavirus, startup events and business meetings have considerably slowed down in Korea. This made networking and finding a job in Korea very difficult. In addition, this has caused many startup events to go global and has significantly reduced the opportunity to form partnerships, attract investment, and network with global investors, startups, and organizations. Therefore, there is a huge demand to build networks all across the world for revolution growth and revolution ventures for Korean startups, organizations, and investors. Entrepreneurs and businesses that can build relationships with startups, entrepreneurs, and venture capitalists outside of Korea and connect them as part of this broader network will be in high demand post-COVID. 

Remote Work from Rural Korea

Seoul is a great city as it has the vast majority of businesses are located there. However, it is very expensive. The average office space is $700 per person a month. While there is great value to be clustered for entrepreneurship, COVID has shown that thanks to platforms like Zoom, rural entrepreneurship is possible. In addition, with the rise of content creators in Korea, the idea of working for a company is no longer seen as a necessity. 

Korea’s rural broadband is amazing and the internet quality in rural areas in Korea is not far off Seoul. Startups and entrepreneurs now can move out to rural areas of Korea. Doing this will save not only living costs but business costs. Great transportation in Korea will allow anyone to come to Seoul within a few hours for important meetings or events. Suburbs are also a great option for those looking for less central areas like Ilsan, Anyang, Bundang, and even Incheon. 

High Demand for Cloud Architects 

Cloud services are now a must for any IT development. Companies in Korea are constantly on the lookout for Cloud Architects whether they specialize in AWS, Azure, or Google Cloud. Flexibility and scalability are the two most obvious reasons for the popularity of cloud services for not just startups in Korea but well-established enterprises. The cloud is incredibly cost-effective compared to any on-premise approach to data storage. Therefore there is a high demand for Cloud Architects that can help companies expand their business. As well as adapt it to any infrastructure challenges using the cloud. Those looking for new career paths should look into getting certified by one of the top 3 cloud service providers. 

The Outcome of the Coronavirus Pandemic in Korea

The coronavirus pandemic demonstrated the importance of digital readiness, which allows business and life to continue as usual. South Korea has done a great job compared to other countries in dealing with COVID. They have built the necessary infrastructure to deal with COVID. As well as support a digitized world that helps businesses and entrepreneurs stay current with the latest technology. With new opportunities emerging due to COVID, it levels the playing field for many entrepreneurs and businesses to take a new path to success.