Invest KOREA

According to Yonhap News,

Ministry of SMEs and Startups (MSS) & ASEAN ACCMSME jointly held a kick off meeting, ‘MSS-ACCMSME talks’ on last Nov. 29 in Phnom Penh, Cambodia.

The launch of the official dialogue is part of efforts to implement policies stated on the joint declaration of Busan Summit which includes the blueprint for the ‘ROK-ASEAN Startup Partnership’.

This biannual meeting will set a stage for a multi-cooperative channel that connects ten ASEAN communities, which ultimately helps startups in Korea tap deeper into global markets.

At the dialogue, MSS proposed a couple of solutions to push for the partnership initiative.
- Run ‘ROK-ASEAN’ startup festivals.
- Provide a matching service between large and small enterprises in ROK-ASEAN communities.
- Open an ROK-ASEAN Venture Capital Conference to boost business investment.
- Run joint-research work to better embrace startup ecosystem, where communities involved can team up for administrative process.
- Form a shared-platform for startups.

Some of the suggestions above were given positive feedback from community members at the meeting. The chair of ACCMSME said “Look forward to seeing vigorous moves for business exchange and cooperation between two regions.” A senior level official at SMEs ministry said “Under the slogan of the New Southern Policy, we’ll consistently help SMEs and startups in Korea gain a foothold, through which small businesses could consequently grow into giant unicorns in the global market ”

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Source: Yonhap News (Dec. 1, 2019)