Korea Youth Entrepreneurship Foundation hosts inaugural FailCon

The Korea Youth Entrepreneurship Foundation successfully held the inaugural ‘2026 Re-challenge Support Headquarters FailCon’ at COEX in Seoul. Organized under the auspices of the Ministry of SMEs and Startups, the forum aimed to shift social perceptions regarding business failure and support entrepreneurs in their efforts to re-start ventures.

Approximately 300 entrepreneurs attended the event, which featured lectures from experienced figures. Entrepreneur and broadcaster Hong Seok-cheon shared insights on self-reflection following business setbacks, while Yang Jun-cheol, CEO of Onoffmix, discussed treating failure as valuable data for future endeavors. Kim Min-cheol, CEO of Yanadoo, emphasized the importance of achieving small, incremental goals during difficult periods.

A talk concert involving the speakers and legal expert Kim Seong-hun provided a platform for participants to discuss the motivations behind re-challenging after failure and the practicalities of closing a business. Han Jeong-hwa, Chairperson of the Korea Youth Entrepreneurship Foundation, stated the organization's commitment to changing the culture that stigmatizes failed entrepreneurs, aiming to transform failure into a social asset through continued cooperation with government agencies.