June 02, 2000 in Social Responsibility News

Former SDS Men Get Together As Venture Company CEOs

For the first time in Korea and to the interest of many, a venture community was inaugurated for cooperation between a large enterprise and start-ups. In the presence of about 30 venture business CEOs, who were previously on its own staff, Samsung SDS (CEO, Hong-Ki Kim ) recently opened SDS4U.Com (www.sds4u.com) for the exchange of information and cooperation.

SDS4U.Com is to serve the purpose of much more than simple friendship. This is to promote the common use of marketing and other techniques for greater synergy effect through cooperation between a large business enterprise and venture businesses. SDS4U.Com is to help start-ups share Samsung SDS' technology and management know-how in addition to the joint marketing of newly developed solutions. Exchanges among start-ups among the membership of this community will lead to the exploration of new business opportunities and in this respect it will differ from the other venture business incubating programs.

SDS4U.Com operates both online and off-line and is well systemized for the easy use of information by all members. Start-up CEOs meet regularly once every month to discuss matters of common concern and interest.

About 30 former SDS employees who now head their own venture companies met to create this community and elected Sun-Jin Kang, President of Nexzone, its first chairman. Among those who got together included Hea-Jin Lee, President of Naver, Yong Yoon, President of Sellpia, Beom-Su Kim, President of Hangame.com, Jung-Sook Sohn, President of Designstorm, and Momo Chang, President of e-Vision.

"With the commencement of SDS4U.Com," the newly elected chairman said, " a new type of business network has become a reality to share the management know-how of a big business on the one hand and unique ideas of venture firms on the other in the Internet business, for which close alliance and cooperation are of critical importance."

About 50 former employees of Samsung SDS are now the presidents of SI, content, electronic distribution, IT consulting and other Internet venture companies with a total of 1,200 others working in this field. Anyone from Samsung SDS is eligible to join the community if they so desire.

Meanwhile, Samsung SDS plans a total investment of 50 billion won this year to locate and support prospective venture businesses and a cumulative total of 150 billion won for this purpose by 2003. To achieve this goal, the company has developed and uses MegaVenture, a program dedicated to the support of venture firms. This program systematically provides them with capital, technology, global business network, and managerial support and know-how. MegaVenture consists of MegaPort, MegaPartner and MegaNet.

MegaPort is intended to explore potential inside the company to support venture businesses with an uninterrupted incubating process and MegaPartner to sharpen the competitive power of outstanding venture businesses by means of investment, takeover and M&A. MegaNet operates a venture community to channel various information for technology, marketing and managerial support. This assistance is made available to venture firms assistance tailored to their respective needs.

Joined by about 6,000 Internet experts and having a wealth of information technology, this program is certain to help venture businesses in the surest and most complementary ways.


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