Baemin shares growth know-how with global startups to build up entrepreneurial ecosystem

Baemin has shared the growth know-how it built up over the past 16 years with global startups, as part of its plan to nurture the domestic and international startup ecosystem in cooperation with government agencies and support organizations.

Woowa Brothers, which operates Baemin, said Friday that it held an on-site exchange event Thursday with participating companies and officials of the "2026 K-Startup Grand Challenge."

The event took place at Baemin Startup Square in Pangyo, Seongnam, Gyeonggi Province.

The K-Startup Grand Challenge is a global startup support project hosted by the Ministry of SMEs and Startups and organized by the Gyeonggi Center for Creative Economy and Innovation. The program aims to attract promising global startups and build Korea into Asia's top startup business hub. The exchange event was arranged as part of the program.

Baemin began its startup incubation project last year when it built Baemin Startup Square in the second Pangyo Techno Valley. The company has offered part of the space rent-free for 10 years to specialized organizations that support startups with investment, legal and networking services. About 60 startups spanning fields from food tech to robotics, AI and eco-friendly technology have moved into the space so far.

At the event, Baemin held a session to share its growth story with 38 officials from overseas startups. Kim Eun-hye, head of the Baemin Startup Square operations team at Woowa Brothers, said, "Baemin, which started with 30 million won ($22,400) in capital, has achieved growth that reads like a textbook case among fiercely competitive startups." She added, "We aim to become an irreplaceable delivery platform through continued innovation, rather than settling for where we are now."

A tour of the facility followed. The tour featured an 80-seat conference hall that can host large-scale events, along with open spaces and lounges where resident startups can freely interact.

In a closing question-and-answer session, participants asked about Baemin's growth strategy, the characteristics of the Korean market and the company's core values. Asked about the values Baemin has upheld, Kim said, "It is about recognizing the fast-paced, high-standard nature of Korean consumers and delivering good food quickly."

Mark Belneger, the head of a Dutch startup who attended the event, said, "It was a chance to really appreciate Woowa Brothers' ability to run its business successfully." He added, "Baemin Startup Square is also appealing because it brings various companies together to communicate in one space."

Kim Ju-yeon, head of the management strategy division at Woowa Brothers, said, "We are glad to be building a startup incubation ecosystem together with the Ministry of SMEs and Startups and the Gyeonggi Center for Creative Economy and Innovation." She added, "We will continue contributing to fostering an entrepreneurial environment in Korea through public-private cooperation."