For startup accelerators that nurture promising young entrepreneurs, identifying a soon-to-be-unicorn, or a company valued at over $1 billion, in its infancy and watching it succeed is something to be proud of.

Song Myoungsoo, founder and chief executive of PEN Ventures Korea, one of the leading startup accelerators in South Korea, however, says that for a lesser-known company to secure a patron, it must have one more critical trait – a determination to go global.

“While some domestic startups have become unicorns by focusing on the Korean market, we don't invest in those firms. We primarily support startups in expanding their reach internationally,” he said in a recent interview with the global edition of The Korea Economic Daily.

“Our focus is on companies with potential for success in overseas markets. The world is interconnected, and growth knows no boundaries.”

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THE KOREA ECONOMIC DAILY GLOBAL EDITION