Unveiling Korea’s Global Soft Power Surge with Steve Jang (Korean-american and among the top 100 VCs in the world) #atomicIdeas

Steve Jang is the founder and managing partner at Kindred Ventures, an early-stage venture capital fund based in San Francisco. He is also a longtime friend and one of the founder-now-investor generation of VCs that arose out of the last technology cycle. Steve is one of the top 100 venture capital investors in the world, according to Forbes Midas List of top venture capital investors, and was ranked #45 in 2023. He is also a Korean-American, a gyopo, who is deeply invested and involved in both the technological and cultural worlds in the US and Asia. 

From its transformation post-Korean War to the worldwide influence of K-pop, this episode offers an insightful look into Korean society and its cultural impact on the world.

Korea was a developing country…it had the fastest rate of economic growth of any country across three decades after that and so what happened there is that it was an industrial country that was still rough that was still trying to rebuild. – Steve Jang

Despite being historically known as ‘The Hermit Kingdom’, Korea has embraced foreign influences over recent years while still preserving its unique cultural identity.

This balance reflects Korea’s successful transition from its past into a more contemporary future.

Confucian values play a significant role in shaping Korean society with emphasis on respect for elders (filial piety), education, and scholarship.

These values, originally adopted from China, have been preserved in Korea even as China has undergone substantial changes.

Koreans have migrated to various parts of the world including the US, Middle East, South America and Europe, contributing to the global recognition of their culture.

This diaspora is referred to as ‘goo’, a term that initially held negative connotations but has now become widely accepted.

Korea is predominantly a Christian society, making it one of the few predominantly Christian Asian countries apart from the Philippines.

This religious influence can be seen through numerous Korean churches and religious activities.

A key characteristic of Korean culture is its intense emphasis on education.

Students often attend ‘hugwans’, or tutoring centres for additional learning after regular school hours – a practice that appears more intense in Korea than other places like Japan or UK.

Korean immigrants establish networks of businesses and hugwans in their new cities.

Churches often serve as central meeting points for these immigrant communities, providing a space for them to connect with others who share their language and cultural background.

While there are superficial similarities between Seoul and Tokyo, there are also significant cultural divergences.

Koreans tend to be more direct and less polite in a protocol sense compared to Japanese culture where it’s difficult for people to say no directly.

There’s a stark contrast between the modern lifestyle in big cities like Seoul and rural areas that still reflect an environment reminiscent of the 60s and 70s.

This has resulted in smaller towns emptying out as everyone wants to move to big cities.

The division of North and South Korea since 1905 has caused significant pain for divided families.

This geopolitical conflict represents the last vestiges of Cold War divisions based on Western capitalism versus Eastern communism, making their situation unique compared to other divided countries like Germany or Vietnam.