Korea-Israel Discuss Cooperation in Startup Development... "Creating Synergy Between Both Countries"

Lee Young, Minister of SMEs and Startups. Photo by Dongju Yoon doso7@

South Korea and Israel held discussions to foster cooperation in venture and startup development.

Lee Young, Minister of SMEs and Startups, held a meeting with former Israeli Prime Minister Naftali Bennett on the morning of the 19th at Tipstown in Yeoksam-dong, Seoul. The event, conducted in the format of a talk show, explored ways to collaborate on ventures and startups between the two countries.

Former Prime Minister Bennett is the founder and CEO of the cybersecurity company Cyota. He served as the 13th Prime Minister of Israel and previously held positions as Minister of Defense, Minister of Education, and Minister of Economy.

The two discussed their countries' startup ecosystems, venture investment environments, startup support programs, and methods to overcome the global economic crisis. Topics also included fostering deep tech startups, expanding venture capital (VC) investment, and discovering and cooperating on startups.

The event was also attended by Yigal Erlich, Chairman of the Yozma Group. Founded in Israel in 1993, Yozma Group is a global venture capital firm. About 50 participants, including startups in deep tech fields such as information and communications, artificial intelligence, and biotechnology, as well as private investors interested in entering the Israeli market, also attended.

Israel is recognized as a leading startup nation. The TIPS program, a private investment-led support project operated by the Ministry of SMEs and Startups since 2013, was benchmarked after Israel’s startup support programs.

Minister Lee stated, "I expect that this meeting will serve as a catalyst to enhance cooperation between the two countries in various deep tech fields," adding, "We will continue to make diverse efforts to create synergy between the two nations."

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