Interview with Sang-hwan Yang, the Leader of Naver D2SF, "All Things Startup as seen by Naver D2SF"

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“D2SF is Naver’s open window for startups. As it is open wide at an accessible level, it provides a similar atmosphere as a neighborhood café or tea shop, or even a guest reception room. Startups that wish to collaborate with Naver with the technology they possess or hope to grow are invited to feel free to knock on the door.”

Naver’s D2SF (D2 Startup Factory, hereafter referred to as D2SF) was established in 2015 and is ‘strategic startup investment organization’ that helps the growth of early technology startups through investments and promotes synergy with Naver. It has been in operation for 7 years around Gangnam station with its accomplishments being widely recognized internally and externally, which lead to its expansion to the new Naver office located in Jeongja-dong, Bundang-gu in the same form of model.

As such, ‘Naver D2SF @Bundang’ seeks to become a ‘Collaboratory (Collaboration + Laboratory)’, where startups and Naver can test and collaborate together in one place to grow together. It is looking for points of collaboration with startups, with a dedicated workspace with 140 seats, as well as restaurants, cafés, and meeting rooms. It also uses the new Naver office, ‘1784’, as a testbed to showcase and get feedback for new technology or services and build references.

We were able to visit Naver D2SF @Bundang, which has a synergistic and collaborative relationship with startups located in Pangyo Techno Valley, and discuss various topics related to Naver and Startups with Sang-hwan Yang, the Leader of the center.

Q1. With Naver D2SF now entering its 8th year, please introduce some of its achievements and success cases of startups that received investment.

Q2. Not even 2% of Korean startups have actually received investments from VC. As such, the reality is that most startups rely on support from institutions. What are the differences in Naver’s investment policy, compared to regular VC and institutions?

Q3. Recently, industry experts have been critical, saying that the ‘liquidity party in Korean startups is now over’. They are now predicting that BM for profit is desperately needed rather than growth. What is D2SF’s opinion on this, and what measures do you have to maximize the profitability of startups?

Q4. CES 2023 is now right around the corner. Please introduce some companies D2SF has invested in that won the CES 2023 innovation award.

Q5. It is projected that the global economic downturn will continue next year. What are D2SF’s mid and short-term plans in such a situation?

Q6. Finally, what kind of entity does D2SF want to be for Korean startups? Also, please give us a word of advice that you would like to share with prospective startup entrepreneurs that wish to be a part of ‘Naver D2SF @Bundang’.


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