Ministry of SMEs and Startups, Korea-ASEAN Startup Policy Dialogue... "Global Expansion Based on New Southern Policy"
The 2nd Korea-ASEAN Startup Policy Dialogue Held
Brunei Proposes Hosting the 'Korea-ASEAN Startup Festival' Next Year
Last year at BEXCO Busan during the 'Korea-ASEAN Startup Expo, ComeUp' event, Minister Park Young-sun of the Ministry of SMEs and Startups toured the K-Brand exhibition hall. Photo by the Ministry of SMEs and Startups
View original image[Asia Economy Reporter Kim Heeyoon] The government is cooperating with ASEAN (Association of Southeast Asian Nations) to help South Korean startups enter the New Southern Region.
The Ministry of SMEs and Startups announced on the 9th that it held the 2nd Korea-ASEAN Startup Policy Dialogue via video conference together with the ASEAN SME Coordinating Committee.
The Korea-ASEAN Startup Policy Dialogue is a consultative body where the Ministry of SMEs and Startups and the ASEAN SME Coordinating Committee discuss startup cooperation measures between the two regions. This policy dialogue was held with the aim of enhancing the connectivity of the Korea-ASEAN startup ecosystem amid limited regional startup exchanges due to the impact of the novel coronavirus disease (COVID-19).
The Ministry of SMEs and Startups and the ASEAN SME Coordinating Committee reviewed the achievements of the startup cooperation projects jointly promoted this year and discussed cooperation projects to be pursued next year. This year, the Ministry of SMEs and Startups jointly promoted nine cooperation projects with the ASEAN SME Coordinating Committee in four areas: policy, exchange, investment, and capacity building.
In particular, to expand startup investments by Korea-ASEAN venture capital, they provided the 'Korea-ASEAN Venture Capital Conference' and the 'Promising Startup Information Provision Program.' The Korea-ASEAN Venture Capital Conference will be held on the 11th in connection with Singapore's startup event, the 'Singapore Innovation Technology Week.'
The Ministry of SMEs and Startups plans to expand related cooperation next year in connection with the Korean New Deal, which focuses on digital and green sectors as its two main pillars. Additionally, Brunei, sharing the need for Korea-ASEAN startup solidarity in the post-COVID era during this policy dialogue, proposed holding the 'Korea-ASEAN Startup Festival' to revitalize exchanges next year.
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No Yongseok, Director of Global Growth Policy at the Ministry of SMEs and Startups, said, "We will continue cooperation with ASEAN so that startups, which will be the main players in the digital transformation era, can use the New Southern Region as a stepping stone to enter the global market and grow into unicorn companies."
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