Building Cooperative Relationships in Singapore and Vietnam
"Strengthening Collaboration with Global Partner Institutions"
The Small and Medium Business Corporation (SBC) has actively established cooperative relationships with major government and financial institutions in Singapore and Vietnam to support domestic startups' entry into overseas markets and local investment.
According to SBC on the 18th, Park Jang-hyuk, Director of Global Growth at SBC, visited HTX, a science and technology innovation agency under the Ministry of Home Affairs in Singapore, on the 15th (local time) to discuss ways to connect and expand exchanges between the startup ecosystems of both countries. The two organizations broadly explored effective cooperation plans, including planning and operating joint programs to support startups from each country aiming for global expansion.
Janghyuk Park, Global Growth Director (center), is taking a commemorative photo after signing a multilateral agreement in Singapore on the 15th. Small and Medium Business Corporation Photo by Small and Medium Business Corporation
On the same day, SBC signed a multilateral business agreement with Pine Tree Securities, the Singapore branch of Hanwha Investment & Securities, and K3 Ventures, the global fund operator of Korea Venture Investment Corp. This agreement was established to promote a public-private cooperative financial program where SBC discovers and recommends outstanding startups through the Korea Startup Center (KSC) operated at overseas local bases, and the two companies provide investment advice and connect with local investors (venture capitalists) to proceed to investment screening (decision).
Meanwhile, on the 17th, SBC held the 'Korea-Vietnam Startup Summit (Seminar)' in Hanoi, Vietnam. The event shared the policy environment and startup status of each country for participating companies, and 25 organizations including government agencies, startup support organizations, and investors from both countries participated to enhance mutual understanding of the startup ecosystem and laid the foundation for continuous exchange and cooperation through the formation of a consultative body.
On the 17th, officials from the Korea-Vietnam Startup Summit held in Hanoi, Vietnam, are taking a commemorative photo. Small and Medium Business Corporation
Director Park said, "This business agreement and summit are expected to serve as a practical foundation for Korean startups to attract investment and expand business in the ASEAN market," adding, "We will continue to strengthen collaboration with related organizations to revitalize the global startup ecosystem and actively support promising domestic startups' entry into overseas markets."
SBC has established Korea Startup Centers (KSC) in major global innovation cities such as Seattle in the United States, Paris in France, Singapore, Hanoi in Vietnam, and Tokyo in Japan to help companies aspiring to expand overseas globalize. Last year alone, it supported 195 companies, with 178 successfully entering overseas markets, creating achievements such as 676 new jobs and attracting 493.2 billion KRW in investment, playing a leading role in the global expansion of startups.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
