The Gyeonggi Center for Creative Economy and Innovation (CEO Won-kyung Kim, hereinafter referred to as the Gyeonggi Innovation Center) announced on the 26th that it signed a memorandum of understanding (MOU) with the Suzhou Industrial Park (SIP) in Jiangsu Province, China for global startup exchange and joint growth.
The Gyeonggi Innovation Center operates various startup support programs, including startup discovery and nurturing, investment linkages, and global expansion support, centered around Pangyo Techno Valley 2, and is leading the domestic innovation startup ecosystem.
Established in 1994 as a national-level economic development zone through collaboration between the Chinese and Singaporean governments, SIP is a representative innovation cluster in China, home to a concentration of global companies and research institutes focused on cutting-edge industries such as semiconductors, biotechnology, and artificial intelligence (AI). Major Korean companies, including POSCO and Samsung Electronics Semiconductor, have also established operations in SIP, and the sector has recently expanded into eco-friendly and advanced manufacturing.
Through this agreement, Korean startups have secured a bridgehead for entering the Chinese market, while Chinese startups, in turn, have access to support from the Gyeonggi Innovation Center and have the opportunity to enter the domestic market.
In conjunction with the signing ceremony, the Gyeonggi Innovation Center visited Suzhou International Science and Technology Park (SISPARK), an international R&D and startup hub within SIP, to inspect key local startups and the innovation ecosystem. Building on this experience, the two organizations plan to promote startup exchange and incubation programs, market entry support, office space provision, and joint fundraising. Both parties aim to expand the Asian innovation ecosystem by establishing a collaborative system between Korean and Chinese startup hubs.
Kim Won-kyung, CEO of the Gyeonggi Innovation Center, said, “This agreement will serve as a practical foundation for domestic startups to advance into the Chinese market,” and added, “Through our collaborative program with SIP, we will support startups to achieve success in the global market.”
A SIP official also stated, "Collaboration with the Gyeonggi Innovation Center will play a vital role in promoting exchanges and shared growth between Korean and Chinese startups," adding, "The innovation ecosystems of both countries will contribute to their entry into the global market."
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