According to Yonhap News,

On April 18, the Korea SMEs and Startups Agency (KOSME) announced that it has established collaborative relationships with key government and financial institutions in Singapore and Vietnam to promote the entry of domestic startups into the ASEAN market and attract local investments.

On April 15, Vice President Park Jang Hyuk from the Global Business Development Division of KOSME, visited HTX, a science and technology innovation agency under the Ministry of Home Affairs of Sinapore, to discuss ways to expand exchanges between the startup ecosystems of both countries.

On the same day, KOSME signed a tripartite memorandum of understanding (MOU) with the financial institution 'Pine Tree Securities' and 'K3 Ventures,' the operator of the Korea Venture Investment Global Fund.

Under the agreement, KOSME will identify and recommend outstanding startups through its overseas Korea Startup Centers (KSC). Both parties will then conduct investment reviews through investment consulting and connections with local investors as part of a public-private partnership financial program.

Additionally, KOSME hosted the 'Korea-Vietnam Startup Summit' in Hanoi, Vietnam on April 17.

The summit attracted participation from 25 organizations, including government agencies, startup support organizations, and investors from both countries, who shared insights on their respective policy environments and startup ecosystems.



chacha@yna.co.kr

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Source: Yonhap News (April 18, 2024)

** This article was translated from Korean.