Korean government initiative appoints YTKO as European advisers


18-02-2002

Cambridge-based international market enablers, YTKO, have been appointed by the Korean IT Industry Promotion Agency (KIPA) to advise on European business opportunities and routes to market for Korean hardware and software companies.

Signed in January 2002, the 12 month agreement enables YTKO to help KIPA set up networking channels, promotion and marketing of Korean high technology enterprises, and also to utilise Korea's new iPark launch pad facility in Hammersmith, London. It also covers inward investment opportunities into Korean ventures, both early-stage and established.



Jay Yoon, Managing Director of iPark London anticipated that the agreement would be the beginning of a long and successful relationship between the Cambridge marketers and KIPA. YTKO's Managing Director, Bev Hurley, commented: 'The size of the Korean investment, from the nation with the greatest Internet usage per capita, underlines their intention to demonstrate the excellence of Korean IT to Europe. YTKO is delighted to be the first UK organisation to be invited to enter into such an agreement.'



The Korean Ministry of Information and Communication supports the Korean IT Industry Promotion Agency (KIPA) with over $330 million to build and run a worldwide support function for Korean IT hardware and software companies. This massive budget is designed to achieve international awareness and sales, from fully-resourced facilities called iParks across the world.



Up to ten Korean high tech companies will set up in Europe in 2002, from the London base and YTKO is already consulting two of them. NeoMtel specialises in animations deliverable to mobile telephones. CNNC Co develops popular children's interactive educational games featuring a series of interchangeable books. YTKO is advising on routes to market in the UK and throughout Europe.



YTKO associates in Boston, Andover Partners, are also working with KIPA at the Boston iPark, on entry for Korean technology companies into the US marketplace, and globally.



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This press release can be downloaded from the YTKO website: www.ytko.com/pr





For further information, please contact:

Wayne Hill, YTKO, 5-7 Portugal Place, Cambridge, CB5 8AF

Phone:+44(0)1223 461 400 Fax:+44(0)1223 461 460



Background:

YTKO is a business development and marketing organisation based in Cambridge UK, with offices in Athens and Amsterdam. Working for clients such as IBM, Maxtor and Analog Devices, it researches markets, develops opportunities, and enables enterprises to achieve market awareness, positioning and consequent sales for their brands.

To read more information, click here.

YTKO Group has worked for over 40 years to support the creation and growth of businesses, increasing revenues and ultimately contributing to economic prosperity. Through funded/sponsored programmes, we provide a range of services, spanning start-up, scale-up, finance and female entrepreneurship. We provide grant, loan and financial management services and deliver tailored training and mentoring programmes for specific client groups, together with creating peer to peer networking communities.

YTKO