On September 3, the opening ceremony of Korea Startup Investment Week 2024 (SIW x Techfest Korea 2024) took place in Daejeon city - Korea's leading technology city.

Deputy Minister of Science and Technology Hoang Minh said that after more than 30 years since the establishment of diplomatic relations, the Vietnam-Korea cooperative relationship has had substantial and effective developments.

In particular, in 2022, the two countries upgraded their relationship to a “Comprehensive Strategic Partnership”, marking a new height in the development of bilateral relations. Most recently, in 2023, South Korean President Yoon Suk Yeol paid an official visit to Vietnam and in June 2024, Prime Minister Pham Minh Chinh also paid an official visit to South Korea.

During Prime Minister Pham Minh Chinh's visit to Korea, the Minister of Science and Technology of Vietnam and the Minister of Small and Medium Enterprises and Startups of Korea signed a Memorandum of Understanding on cooperation in developing and exchanging startup ecosystems.

The fact that Daejeon City invited the delegation of the Ministry of Science and Technology and Vietnamese enterprises to attend the 2024 Korea Startup Investment Week partly demonstrates the implementation of the commitments between the two countries and cooperation agreements on science and technology development in recent times.

“We are currently focusing on promoting the Vietnamese creative startup ecosystem. A young, dynamic, creative ecosystem that connects with the creative startup ecosystems of countries in the region, especially with the Korean creative startup ecosystem,” Mr. Hoang Minh emphasized.

According to Deputy Minister Hoang Minh, Vietnam currently has more than 4,000 startups, including 3 “unicorns” that have raised more than 1 billion USD in capital and more than 10 businesses that have raised more than 100 million USD. Foreign investment capital in Vietnam’s startup sector is constantly increasing. Vietnam hopes that Korea will increase investment in Vietnam in this potential field.

Accompanying the delegation of the Ministry of Science and Technology to attend the Korean Startup Investment Week 2024 are Vietnamese innovative startups. The businesses will introduce their technology products at this important event.

“I would like to respectfully invite Mr. Lee Jang Woo - Mayor of Daejeon City, along with international friends, international and Korean investors to attend the National Creative Startup Festival 2024 of Vietnam. The festival is scheduled to take place in November in Hai Phong City, with the highest presence of Vietnamese State leaders,” said Mr. Hoang Minh.

Hoai Anh