The Broadcast Media Communications Commission and the Korea Internet & Security Agency (KISA) said on May 11 they will launch the "2026 Korea Location-Based Service (LBS) Startup Challenge" to discover startups in the location information sector.

Applications will be accepted from May 11 to June 10 through the contest website. Anyone with a location-information-related idea, service or product can participate, including young people, prospective founders and small business operators.

Selected teams will receive tailored support across commercialisation, including business model enhancement, strengthened fundraising capabilities, prototype demonstration, support for registration and reporting as a location information business, and intellectual property filings. This year, a support programme was also added to help shift to AI-based data analysis and forecasting services. Support for entry into the public market will also run in parallel through help with designation as an excellent product by the Public Procurement Service and registration on the SME Technology Market.

After document screening and presentation reviews, 30 teams will be selected and 13 outstanding teams will receive awards. Total prize money is 92 million won. The grand prize team will receive 20 million won and the chairperson's award from the Broadcast Media Communications Commission. The final selected teams will present their results at an event in November and have networking opportunities with investors and industry officials.

Kim Jong-cheol (김종철), chairperson of the Broadcast Media Communications Commission, said location information is a key resource that creates new startup opportunities in areas including logistics, industry and daily life safety. He said the commission will provide all-round support to help startups in the location information sector grow.