SMEs Establish Foothold for Overseas Expansion Through Technology Exports

'Korea-Vietnam Global Technology Transfer Partners Day' Held

The Ministry of SMEs and Startups announced on the 26th that it held the ‘Korea-Vietnam Global Technology Transfer Partners Day’ at COEX in Seoul.

The Korea-Vietnam Global Technology Transfer initiative was promoted based on the 'Support Measures for the Globalization of SMEs and Startups' announced by the government in May this year. Utilizing the ‘Global Smart Tech Bridge,’ it supports domestic SMEs and startups in exporting appropriate technologies they possess to demand companies in Vietnam.

The Smart Tech Bridge is a platform established in December 2022 to revitalize technology transactions among SMEs. It provides information on public technologies (950,000 cases) from universities and public research institutes, as well as technology demand information collected from online and offline channels, using an AI-based search, matching, and recommendation system. Especially, the newly launched ‘Global Smart Tech Bridge’ in September this year adds overseas technology demand information to the existing domestic technology demand data, offering it to domestic companies wishing to export technology and supporting matching as well.

Since the second half of this year, the Ministry of SMEs and Startups has been cooperating with the Korea Technology Finance Corporation and private organizations with local networks in Vietnam to survey technology demands of companies in both countries and support technology matching. A total of 19 Vietnamese technology demand companies and 53 domestic SMEs wishing to export technology have been identified, and so far, a total of 8 technology matchings have been made.

The matched technology fields include ▲organic fertilizers ▲environmental wastewater treatment ▲eco-friendly energy ▲ICT technologies, demonstrating the potential for sustainable technological cooperation between the two countries through this event. The Ministry plans to continuously manage the total of 8 matched cases, including 6 agreements signed at this event, to ensure that formal technology export contracts are successfully concluded in the future.

Kim Woo-sun, Director of Technology Innovation Policy, stated, "Taking this project as an opportunity, we plan to activate technology exports of domestic SMEs and gradually expand the target countries for support to globalize technology transactions. We will also prepare follow-up support measures for global technology transfer to create new momentum for domestic SMEs to advance overseas."

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