Park Young-sun Meets European Company CEOs... Fostering Startups

Discussion on Collaboration with 20 Companies Including L'Or?al and Philips

Park Young-sun, Minister of SMEs and Startups, is delivering a greeting at the European Business Meeting held on the 1st at the Grand Hyatt Hotel in Yongsan-gu, Seoul.

[Asia Economy Reporter Kim Daeseop] On the 1st, Park Young-sun, Minister of SMEs and Startups, held a meeting with CEOs of European companies including L'Or?al France and urged cooperation with Korean startups and venture companies.

This meeting was organized with the intention that Dirk Lukat, newly inaugurated as Chairman of the European Chamber of Commerce in Korea on the same day, would continue to act as a connector to facilitate cooperation between European companies and Korean companies together with the Ministry of SMEs and Startups.

The meeting took place at the Grand Hyatt Hotel in Yongsan-gu, Seoul, attended by Minister Park Young-sun, Dirk Lukat, Chairman of the European Chamber of Commerce in Korea, and CEOs and executives from 20 European companies. Various companies from fields such as manufacturing, automotive, logistics, and fashion gathered, including France's L'Or?al and Dassault Syst?mes, Germany's DB Schenker and Mercedes-Benz, Sweden's IKEA, the Netherlands' Philips, and Switzerland's ABB.

At the meeting, Minister Park explained the Korean New Deal focusing on the Ministry of SMEs and Startups' policies to the attendees. She also introduced the achievements of 'innovative venture companies and startups,' the new leaders of the Korean economy. Specific cooperation plans between Korean and European companies were also discussed.

Park Young-sun, Minister of SMEs and Startups (center), is taking a commemorative photo with CEOs and other attendees at the European Business Meeting held on the 1st at the Grand Hyatt Hotel in Yongsan-gu, Seoul.

First, L'Or?al and Philips will participate in the Ministry of SMEs and Startups' cooperation projects. They agreed to support the nurturing and overseas expansion of startups in the fields of 'eco-friendly cosmetic packaging materials' and 'digital healthcare,' respectively. Mercedes-Benz plans to hold 'Startup Autobahn Korea' in the second half of this year to further strengthen cooperation focusing on autonomous driving infotainment.

Additionally, Dassault Syst?mes proposed initiatives such as 'building a virtual makerspace' and 'supporting Meister High School software education' by utilizing its unique technology in the 3D design solution field.

Minister Park said, "In the era of the Fourth Industrial Revolution, innovation is achieved through connection, so the 'strong power of connecting small things' is important," adding, "We will actively support the creation of innovation synergy for the great transition to a digital economy through cooperation between Korean and European companies."