Seonghun Kim, CEO of UKF Korea: "Korean Startups Must Cross Borders...Supporting the Building of Social Capital"

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Kim Seonghun, Managing Attorney at Mission Law Firm, was recently appointed as the CEO of UKF Korea, the Korean branch of United Korean Founders (UKF). His career path, from establishing a law firm that supports the startup ecosystem to leading a community that aids Korean startups’ expansion overseas, reflects his deep affection for Korea and its startups. Kim plans to broadly expand UKF Korea’s work, from research on overseas expansion of domestic startups to the development of social capital. In an interview on July 13 at the Mission Law Firm office in Gangnam-gu, Seoul, he said, "If our founders are not lacking in capabilities, I hope they can also thrive in larger markets," adding, "Crossing borders is a mission we must accomplish."

Sung Hoon Kim, CEO of UKF Korea, is interviewed by The Asia Business Daily on the 13th at Mission Law Firm in Gangnam-gu, Seoul. Photo by Jinhyung Kang

UKF is a community of Korean founders in the U.S., as well as global leaders and investors, operated by Co-Chairs Lee Kiha (CEO of Sage Partners) and Jung Saeju (Founder of Noom). Board members also include Chief Strategy Officer Changwon Kim (Founder of Tapas Media) and Legal Director and CEO Seonghun Kim. Recently, the UKF board restructured its organization, appointing Jung as the sole chair. While UKF has focused its main activities in the U.S., UKF Korea establishes a community for entrepreneurs in Korea seeking to expand internationally, and serves as a communication channel with domestic institutions.

UKF Korea aims to build social capital around three pillars: community building, the accelerator (AC) business, and a policy think tank. Regarding community building, Kim explained, "We are planning study groups and community gatherings by industry, target, and region, and UKF members want to support and share these insights. We also plan to regularly host strategic sessions for ongoing discussions." These activities are expected to eventually lead to the growth of the AC business. Kim said, "We're considering a structure where investments are facilitated within the community as needed, with detailed structures and implementation plans soon to be released."

As a policy think tank, UKF Korea intends to address fundamental questions. Kim said, "We plan to conduct a comprehensive survey on the philosophy and direction of Korean institutions involved in global expansion—how they define overseas expansion and their budget allocations." He added, "Based on these findings, we intend to propose strategies linked to national policy, so as to create effective, meaningful measures."

Seonghoon Kim, CEO of UKF Korea, is being interviewed by The Asia Business Daily on the 13th at Mission Law Firm in Gangnam-gu, Seoul. Photo by Jinhyung Kang

Kim first encountered the startup world while helping a college club junior who founded a social venture, during his time at a law firm. He later took on a range of advisory roles for the startup ecosystem, sometimes pro bono, earning himself the nickname "the defender of Seongsu-dong startups." Kim said, "Litigation deals with the past, but assisting venture businesses made me realize these are people building the future. It also gave me a sense that my aspiration for pro bono work—for the public good—is partly being fulfilled."

His enthusiasm for startups led him to establish Mission Law Firm. "Startups create the future even in the face of adversity. I believed a solid infrastructure was necessary for their success and growth, and from an ecosystem perspective, there was a need to foster global openness," he said.

Mission Law Firm has opened an office in Silicon Valley to support the legal needs of startups expanding into the U.S. The firm is also investing its own resources to enhance social capital through information, trust, and networking. Kim explained, "In the U.S., the characteristics of social capital differ greatly by state and city. This is why we launched the 'Why Series' events and content, tailored to each region. Last year alone, we organized about 30 forums by region."

When asked about the global status of Korean startups, Kim replied, "It's not that high," emphasizing the growing need for internationalization. However, above all, he stressed the importance of companies fully integrating themselves into their target markets. Kim said, "A company entering the U.S. market should become an American company, and those expanding into Japan should become Japanese companies. They should establish local corporate systems, governance, and identity."

As for the weaknesses of domestic companies aiming to expand abroad, he pointed to social capital and the ability to become truly local businesses. Kim explained, "Some people believe it's sufficient to simply hire a few local employees, but I advise that founders should directly lead on site with successful teams. There must be successful individuals within the organization to offer meaningful advice for corporate growth, and that's a role the UKF community aims to play."

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