InnoBiz Association Holds Korea-Vietnam Non-Face-to-Face Technology Exchange Consultation Meeting

An InnoBiz company participating in the Korea-Vietnam non-face-to-face technology exchange is conducting consultations with local companies.

[Asia Economy Reporter Donghyun Choi] The Inno-Biz Association (Small and Medium Business Technology Innovation Association) announced on the 8th that it held the ‘2022 1st Korea-Vietnam Non-Face-to-Face Technology Exchange Consultation’ at Shilla Stay Samsung in Seoul on the 6th and 7th in cooperation with the Ministry of SMEs and Startups.

This consultation was held targeting promising domestic export SMEs to pioneer overseas markets and revitalize exports, which have been contracted due to the spread of COVID-19. Nine domestic SMEs were matched with over 50 Vietnamese companies, and consultations were conducted on topics such as technology licensing (technology export), export of parts and equipment, and establishment of joint ventures.

Since 2014, the association has been conducting a convergence technology exchange promotion project that pioneers overseas markets by mediating excellent innovative technologies possessed by Inno-Biz companies. So far, about 700 domestic companies have actively engaged in exchange activities with overseas innovative companies in countries such as Vietnam and Indonesia through technology mediation.

In the case of Vietnam, major global economic institutions forecast this year’s economic growth rate to be in the 6 to 6.5% range due to domestic demand recovery, export boom, and expansion of FDI (foreign direct investment) attraction. In addition, since the Vietnamese government is accelerating public-private cooperation in core projects based on the three pillars of production, export, and public capital expenditure, it is expected that the entry of domestic innovative companies will become more active.

Companies from various fields such as electric vehicle battery packs, cosmetics, and IT participated in the consultation, resulting in a total of 44 exchanges. Jo Doohee, CEO of PTSG Global, who attended the consultation, said, “The consultation was meaningful in that it was not a simple overseas expansion support centered on products, but it was possible to discover and cooperate with local partners through technology exchange.”

Lim Byunghoon, chairman of the Inno-Biz Association, said, “Vietnam is a key country in the New Southern Policy countries and the most preferred country for domestic companies to enter overseas markets,” adding, “On the occasion of the 30th anniversary of Korea-Vietnam diplomatic relations this year, the association will strengthen exchanges between companies of the two countries by mediating innovative technologies possessed by Inno-Biz companies and actively support the global growth of Inno-Biz companies.”

Meanwhile, the association plans to hold technology exchange consultations targeting Turkey (April), the Philippines (May), and Cambodia (June) besides Vietnam in the first half of this year. In the second half, it plans to actively promote local dispatches to Vietnam, Indonesia, Uzbekistan, Armenia, Turkey, and others to expand market channels for Korean companies.

This content was produced with the assistance of AI translation services.