The opening of the Korea Startup Center (KSC) in Hanoi marks a significant stride in science-technology and innovation cooperation between South Korea and Vietnam, Deputy Minister of Science and Technology Tran Hong Thai has stated.
The KSC is also an indication that bilateral ties will revolve around science-technology and innovation in the future, he noted at the launch of the center on Monday.
On the back of strong momentum in South Korea-Vietnam ties, which were upgraded to a comprehensive strategic partnership late last year, bilateral cooperation in science-technology has yielded positive results, with technology transfers making breakthroughs in both countries, Thai added.
The establishment of the KSC in Vietnam, home to one of the most dynamic startup ecosystems in Southeast Asia, is expected to help startups in both countries thrive together, said Woo Young Hwan, vice president of the Korea SMEs and Startups Agency (KOSME).
The center aims to help Korean startups enter Vietnam’s market and share experiences in developing investment-led startups, Woo added.
At the event, the National Agency for Technology Entrepreneurship and Commercialization Development (NATEC), under the Vietnamese Ministry of Science and Technology, and KOSME signed an MoU on nurturing and fostering startups, networking with partners and investors, and boosting startup ecosystems in both countries through various events.
Also on the occasion, the Korea-Vietnam Startup Alliance was launched with the participation of investment funds and startup companies from both countries.