Kim Young-rok, CEO of Next Challenge, said, "Where does startup DNA start?"

From Architect to Educator to Innovation Startup Accelerator...Kim Young-rok's Life and Challenges

His story of innovation linking the local start-up ecosystem, start-up education, and start-up philosophy

Next Challenge Foundation CEO Kim Young-rok / Photo by Kim Hee-yeon, Financial Review

"Authenticity, competence, and a sense of mission — these three qualities made it all possible."

Kim Young-rok, CEO of Next Challenge Foundation, is a rare example of someone who has successfully cultivated a startup ecosystem in a remote location — Seogwipo, on Jeju Island.A former architect, turned professor, and now a bestselling author and global accelerator leader, Kim founded Next Challenge Foundation in 2019.In just six years, the foundation has achieved remarkable milestones: surpassing KRW 10 billion (approx. USD 7.5 million) in revenue, securing KRW 80 billion (approx. USD 60 million) in government funding, and supporting over 1,000 startups through investment and incubation programs.

Recently, through his book "The Unknown Wolf," Kim explored collaborative opportunities with ASEAN countries and shared insights into building a global startup ecosystem. He also founded Next Challenge School, Korea’s first high school specializing in startups.Since obtaining approval from the Ministry of SMEs and Startups in 2019 to headquarter the foundation in Seogwipo, Kim’s dedication, persistence, and bold experimentation have raised fundamental questions about how regional startup hubs can be built — moving beyond traditional startup support to broader city-level innovation.

Seogwipo Startup Bay / Photo courtesy of Next Challenge Foundation

In the early days, only a handful of startups were based in Seogwipo. However, through authentic leadership and proven capabilities, CEO Kim earned the trust of the local community and successfully fostered collaboration between public institutions and the private sector.As a result, Seogwipo has now evolved into a city with a more vibrant startup ecosystem than Jeju City itself.

Currently, Seogwipo hosts three startup centers, and nearly 200 companies have launched or grown through these hubs.Recognizing his achievements — including securing KRW 8.3 billion (approx. USD 6 million) in national funding — the Jeju Provincial Government awarded Kim an Honorary Citizenship Certificate in 2021.

Looking ahead, he aims to establish a “Micro Silicon Valley” by connecting 10 global innovation and technology hubs across eastern and western Seogwipo over the next decade.Through this initiative, he is committed to creating high-quality jobs and expanding the startup ecosystem so that young people can return to their hometowns and thrive.

Next Challenge Foundation CEO Kim Young-rok / Photo by Kim Hee-yeon, Financial Review

"In Seoul or Pangyo, you rarely find the kind of tight-knit networks and agile execution that exist in regional communities.Precisely because of the constraints in these areas, more creative solutions emerge.Entrepreneurship should start not with capital, but with problem-solving.While Seoul’s ecosystem is largely opportunity-driven, places like Seogwipo foster survival-based, hands-on entrepreneurship.Here, failure yields immediate feedback, and execution is fast — that’s why I believe this city can serve as a real-world textbook for entrepreneurship."

Startups are Education: Launching Korea’s Version of the "Tesla High School"

Beyond building a startup ecosystem, Kim is now deeply invested in nurturing entrepreneurial talent.In March, after five years of preparation, he officially opened Next Challenge School (NCS) — Korea’s first high school specializing in startups.He describes it as “Korea’s version of the Tesla High School.”

"Everyone talks about the need for education that matches the AI era, but in reality, very little has changed.So I decided to build the only school where AI and human creativity can coexist."

Next Challenge School Recruitment Notice / Photo courtesy of Next Challenge Foundation

Next Challenge School offers a curriculum that is entirely different from Korea’s traditional public education system.There are no grade levels — students from middle school (Grade 8) to high school (Grade 12) learn together in shared classes.The core program focuses on entrepreneurship practice, future technology education, and global exploration.

Though the school currently operates with a small cohort, Kim describes the students as:"those courageous enough to leave conventional schools to pursue a different kind of education here."

The annual tuition is effectively reduced by 50% through foundation scholarships, making the real cost about KRW 1 million (approx. USD 750) per month, including English education.Leveraging his experience as a global accelerator, Kim has assembled an exceptional faculty:professors from Minerva University, Silicon Valley entrepreneurs, global corporate professionals, social enterprise leaders, startup CEOs, and experts from fields such as culture, the arts, sports, and history.

Students also engage in international exchanges with students from global international schools, fostering their growth as global citizens.Kim is confident that within three years, the school will achieve an admissions competition rate surpassing Korea’s top private high schools.

In an Era Where Technology Surpasses Human Value, the Time to Prepare Is Now

Kim Young-rok’s third book in the "Wolf" series, The Unknown Wolf / Photo courtesy of Next Challenge Foundation

Kim’s "Wolf" series of books delivers messages for those who, like wolves, forge their own path through the challenges of entrepreneurship and education.The three volumes — The Mutant Wolf (introductory), The Charging Wolf (advanced), and The Unknown Wolf (ASEAN edition) — have all become bestsellers, consistently ranking on Kyobo Bookstore’s top lists, with a cumulative sales volume of over 100,000 copies.

In his ninth book, The Unknown Wolf, Kim explores topics ranging from classics, philosophy, and history, to AI technologies, the evolving roles of Korea and ASEAN countries, and the future of the Korean economy.He offers a roadmap for pioneering "unknown markets" centered on the ASEAN region.In particular, he emphasizes the looming global transformation — the "Singularity" — that humanity will face in the era of AI and robotics.

Today, humanity is entering a new phase of risk, driven by the rapid advancement of AI and the potential for data monopolization.Kim describes this as a form of "modern inequality of ownership."According to him, the era where technology replaces human labor has already begun — and creativity and imagination will be the last remaining competitive edges.

"In the age of AI, repetitive tasks will disappear.What only humans can offer is creativity, empathy, and imagination."

This philosophy is also why Kim is embedding a startup DNA within Next Challenge School.Rather than focusing solely on launching businesses, the school emphasizes developing the ability to understand innovation and to solve problems intuitively.

"In places like Singapore, it’s not uncommon for students to launch startups in high school and build unicorn companies in their twenties.The younger you are, the more creative potential you have.If you learn entrepreneurial instincts early, it can transform your entire life."

The Philosophy of "Luck, Persistence, Diligence" — Three Words to Live By

Kim’s management philosophy is simple but powerful: "Luck, Persistence, Diligence."This is inspired by Samsung founder Lee Byung-chul’s motto:

• Luck (운): something you create through preparation.

• Persistence (둔): as the saying goes, "A foolish bird flies farther." Sometimes, simplicity and perseverance matter more than calculation.

• Diligence (근): sincerity and hard work.

"Luck comes to those who are prepared.Don’t waste time overanalyzing — push forward consistently, even stubbornly.I always tell my team: 'It’s okay to fail.'Entrepreneurship is not a numbers game; it requires the courage to throw yourself into the unknown where survival is at stake."

"After writing nine books, here’s one line I truly live by:'Life is about overcoming ambiguity.'When we master that, we achieve true success.Innovation is not some distant goal. If we plant the seeds right where we stand, that is where true innovation begins."

출처 : 파이낸셜리뷰(http://www.financialreview.co.kr)