Korea Startup Forum and Vietnam NIC Sign MOU for Startup Ecosystem

Hanoi, Vietnam - The Korea Startup Forum and Vietnam's National Innovation Center signed a memorandum of understanding on Wednesday to strengthen cooperation between their respective startup ecosystems, according to a joint announcement issued Friday.

The signing took place in Hanoi, with representatives from both organizations present, including Korea Startup Forum Chairman Sang-woo Han, COO Josh Choi, and National Innovation Center Vice Director Vo Xuan Hoai.

The agreement builds on discussions that began between the parties in Seoul in August 2023.

The memorandum outlines several areas of cooperation. The organizations will connect startups, investors, academic institutions, and other entities in both countries.

They will offer technical support and guidance to early-stage companies and organize joint events, including forums and workshops.

The parties will also pursue collaborative research initiatives and pilot programs.

The Korea Startup Forum will help South Korean startups enter the Vietnamese market and identify potential partners.

The National Innovation Center, which operates under Vietnam's Ministry of Planning and Investment, will provide regulatory guidance, access to infrastructure, and institutional connections to South Korean companies establishing operations in Vietnam.

Vo Xuan Hoai said the agreement creates a formal framework for cooperation between the two countries' startup sectors.

Han indicated that the framework would support South Korean startups' expansion into Southeast Asian markets and facilitate information exchange on policy frameworks and regulatory structures.

The National Innovation Center operates as a government platform that supports the technology industry and startup development in Vietnam, serving as a bridge between policymakers and the private sector.