InnoBiz Association Holds Korea-Vietnam Technology Exchange Consultation Meeting

Domestic companies attending the Korea-Vietnam Technology Exchange Consultation are taking commemorative photos on-site in Vietnam.

[Asia Economy Reporter Donghyun Choi] The Inno-Biz Association (Small and Medium Business Technology Innovation Association) announced on the 18th that it held the ‘2022 Korea-Vietnam Technology Exchange Consultation’ over two days from the 16th to 17th in Hanoi, Vietnam.

The association had been conducting consultations only online since the COVID-19 pandemic but, following recent easing of quarantine guidelines, dispatched technology exchange delegations three times this year: to Uzbekistan in August, T?rkiye (Turkey) in September, and Indonesia in October.

This consultation was tailored to Vietnamese demand and featured nine domestic companies including OneMoreSecurity, a deep learning-based facial recognition solution company, and Monet Korea, a monitoring solution company in the Internet of Things (IoT) sector.

Together with 47 local companies, they discussed various cooperation methods such as technology licensing (technology export), export of parts and equipment, and establishment of joint ventures. The event also yielded results including 48 consultations for technology export cooperation between companies of both countries and three memorandums of understanding (MOUs).

Notably, unlike previous events, this consultation involved a prior non-face-to-face consultation last month to discuss cooperation matters between companies from both countries, followed by direct visits to Vietnamese local companies to negotiate detailed matters.

Following the prior non-face-to-face consultation, domestic companies have continuously engaged with local demand companies and planned to discover tangible results through face-to-face consultations. The association plans to continue establishing such efficient business methods to lead practical overseas expansion efforts of manufacturing innovation companies.

Kim Se-jong, Director of the Inno-Biz Policy Research Institute, said, "Vietnam is a key country in the New Southern policy and a preferred destination for domestic companies’ overseas expansion. Marking the 30th anniversary of Korea-Vietnam diplomatic relations in 2022, we will strengthen exchanges between companies of both countries through innovative technologies possessed by Inno-Biz companies and actively support the global growth of Inno-Biz companies."

Meanwhile, this year the association has promoted technology exchange consultations targeting 10 countries including Vietnam, T?rkiye (Turkey), the Philippines, Cambodia, and Uzbekistan. In November, it plans to hold a consultation with Hungary, the last overseas expansion target country of the year, and will provide participating companies with buyer matching, video consultation equipment, and interpretation services.

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