Japan and South Korea catching China in startup race: report

Tokyo and Seoul join list of most attractive cities for emerging tech companies

Seoul (above) has become more attractive to startups, according to a new ranking. © AP

WATARU SUZUKI, Nikkei staff writer

June 25, 2020 18:57 JST

TOKYO -- Japan and South Korea are catching up to China as a hub for startups, according to a report that highlights the battle for capital and talent in Asia's technology sector.

U.S. policy advisory firm Startup Genome's latest ranking of top startup ecosystems, announced Thursday, featured Tokyo and Seoul for the first time, at 15th and 20th place respectively. Startup Genome attributed the rise to their "strength as R&D powerhouses."