Ulsan Center for Creative Economy and Innovation (UCCEI) and Ulsan College of Science and Technology (UCC) are joining hands with major universities and institutions in four major cities in Vietnam (Hanoi, Danang, Nha Trang, and Ho Chi Minh City) to launch the Vietnam-Korea Startups Ecosystem Exchange Cooperation (VKSEE) program, which combines a two-year study abroad course through Ulsan College of Science and Technology’s Department of International Studies’ Global Entrepreneurship major and a two-year technology entrepreneurship settlement course, in preparation for a leap forward into a global international city startup ecosystem for foreign deep-tech startups.
In particular, Ulsan has the strength of being able to provide an optimal test bed for startups in deep tech fields such as AI, big data, cloud, smart factories, self-driving cars, and smart cities based on its accumulated technological prowess and infrastructure in the manufacturing sector.
However, the lack of digital experts in the region is an urgent issue that needs to be addressed. Accordingly, Ulsan Creation Center and Ulsan Science University plan to successfully lead the digital transformation by attracting excellent overseas talent through the VKSEE program and fostering deep-tech startups linked to local industries. They plan to attract overseas foreign startups through open innovation in cities by connecting the ecosystems between cities in various countries such as Thailand, Japan, and Singapore.
The VKSEE program goes beyond simple exchange cooperation and presents an innovative model to support Vietnamese youth to study abroad and settle down in Ulsan through technology startups. The program consists of two major tracks.
Ulsan Global Innovator Launchpad (UGIL): A two-year degree program offered by the Department of Global Entrepreneurship at Ulsan National University. Vietnamese students will receive Korean language and entrepreneurship basics education as well as technical entrepreneurship education based on the OASIS system through this program. Participating students will be issued a student visa (D-2/D-4) and will be provided with various benefits such as part-time work, scholarships, patent application support, and dormitory provision.
Startup Course: Students who successfully complete the UGIL program will be supported to obtain a startup visa (D-8-4) after graduation. The Ulsan Creative Economy Innovation Center provides them with customized support for the overall startup growth, including startup space, mentoring, incorporation, investment attraction, and government support project linkage.
Vietnam is evaluated as a country with a rich young population and high growth potential, including SW technology. In particular, the Vietnamese government is actively promoting the startup ecosystem, and innovative startups are growing rapidly in major cities such as Da Nang, Ho Chi Minh, Hanoi, and Nha Trang. The Ulsan Creative Economy Innovation Center highly values this potential of Vietnam, and through the VKSEE program, it aims to attract excellent Vietnamese talent and technology to Ulsan, thereby strengthening the digital competitiveness of local industries.
The VKSEE program is evaluated as a win-win model that provides a win-win opportunity for both Ulsan and Vietnam. Ulsan can secure key talents and technologies necessary for digital transformation, Vietnam can provide young people with opportunities to advance overseas and start businesses, and it can have the effect of expanding economic cooperation between the two countries.
In addition, the plan is to create a favorable environment for foreigners to start businesses in deep tech fields based on the region's future technology demand by attracting a global immigration center that integrates the southeastern region (Busan, Ulsan, and Haeo-reum) centered around the Ulsan Startup Hub.
The Ulsan Creative Economy Innovation Center plays a role in resolving difficulties faced by foreign entrepreneurs and supporting them to settle down stably, including providing OASIS education for obtaining a foreign entrepreneurship visa, residence support, and legal and tax advice.
Through this, Ulsan Creative Economy Innovation Center Director Kim Heon-seong expressed his ambition to “actively attract foreign startups in the deep tech field linked to regional specialized industries” and “grow Ulsan into an international global innovation city with a global startup ecosystem where entrepreneurs of various nationalities interact and cooperate.”
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