Kim Cheol-woo: “Do not treat entrepreneurship as sacred. Just take the leap”

“Korean founders are highly capable in the global market. But perhaps because humility is considered a virtue here, not many people talk openly about big dreams.”

That is how Kim Cheol-woo, chief executive of venture investment firm The Ventures, describes the mindset he believes Korean startup leaders need. By contrast, he says, American founders often make bold claims about changing the world or building companies worth tens of trillions of won. Such talk can sound unrealistic, he acknowledges, but he has never seen a founder’s company become larger than the founder’s dream.

Kim says he believes an entrepreneur’s potential comes less from ability than from the size of the dream. His advice is blunt: founders should not treat starting a business as something sacred or intimidating. They should challenge themselves and begin.

Kim founded the secondhand-trading startup Sellit in 2014 and received seed funding from The Ventures, beginning his relationship with the firm. Sellit later became part of Kakao, where Kim experienced life as an executive at a major company. In 2018, Sellit merged with Quicket, and he became chief product officer of Bungaejangter.

He joined The Ventures in 2020 after an offer from then-chief executive Ho Chang-seong. His career has given him experience as a founder, a large-company executive and an investor, shaping his view that ambition should come before caution.

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Korean founders are highly capable in the global market. But perhaps because humility is considered a virtue here, not many people talk openly about big dreams. When I meet American founders, many make extravagant claims that they will change the world or build companies worth tens of trillions of won. It can naturally provoke resistance, but I have never seen a company grow larger than its founder’s dream. I believe an entrepreneur’s potential comes from the size of the dream more than from ability.