Korea Startup Forum (Chairman Sang-Woo Han, hereinafter referred to as KOSPO) announced on the 6th that it signed a Memorandum of Understanding (MOU) with Vietnam's National Innovation Center (NIC) on the 5th to promote the development of the startup ecosystem and revitalize entrepreneurship network exchanges.
The signing ceremony took place in Hanoi, Vietnam, and was attended by key officials from both organizations, including KOSPO Chairman Han Sang-woo, Executive Director Choi Ji-young, and NIC Deputy Director Vo Xuan Hoai. The agreement aims to establish a cooperative framework to support the growth of innovative startups in Korea and Vietnam and to foster business exchanges between companies in both countries.
This MOU marks the second milestone following discussions on cooperation between the two organizations in August of last year. At the time, KOSPO and NIC met in Seoul to discuss the current state of the two countries' startup ecosystems and market entry support measures. They also explored the possibility of collaboration on joint programs, such as the global startup festival COMEUP. This follow-up effort led to the signing of an official agreement.
Through this agreement, the two organizations agreed to strengthen cooperation in various areas, including startup knowledge exchange, growth support, event participation, and policy environment exchange. Key areas of cooperation include facilitating information exchange and networking among startups, companies, investors, universities, and institutions in both countries; sharing knowledge and expertise with early-stage companies; co-hosting forums, workshops, and networking events; and conducting joint research and projects.
Furthermore, KOSPO plans to leverage its domestic and international networks to support Korean startups' entry into the Vietnamese market and the discovery of local partners. NIC will support Korean startups' local settlement and business expansion by providing information on Vietnamese policies and regulations, connecting them with local organizations and companies, and providing infrastructure support.
Both organizations anticipate that this agreement will facilitate local expansion, proof-of-concept (PoC), and investment collaborations between startups from both countries. They plan to continue expanding connections between the Korean and Vietnamese innovation ecosystems through joint program operations and policy cooperation.
NIC Deputy Director Hoai Bo-an stated that this agreement will serve as a catalyst for establishing a strategic partnership between the Vietnamese and Korean startup ecosystems, and he hopes it will lead to joint business development and market entry. KOSPO Chairman Han Sang-woo stated that the agency will support Korean startups' entry into the ASEAN market by expanding its global network and strengthen the foundation for public-private cooperation by exchanging information on policies and systems between the two countries.
Meanwhile, the NIC is a key national innovation institution established by the Vietnamese government to foster innovative startups and high-tech industries. Under the Ministry of Planning and Investment (MPI), it serves as a national innovation platform that connects government policies with the private innovation ecosystem.
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