Vietnam and South Korea Boost Cooperation in Innovation and Startups

Vietnam and South Korea are moving to strengthen cooperation in the fields of innovation and startups. Investment connections and support programs between the two countries are expected to open new opportunities, contributing to the development of the digital economy, smart tourism, applied technology, and a regional startup ecosystem. This push for enhanced cooperation was evident during a meeting between the Chairman of the Central Committee of the Vietnam Fatherland Front and the leadership of the Vietnam-Korea Entrepreneur and Investor Association. Discussions also covered promoting people-to-people exchanges and strengthening connections with Vietnamese entrepreneurs, experts, and intellectuals residing in South Korea. Under its one-party system, Vietnam has achieved rapid economic growth, particularly focusing on attracting foreign investment in manufacturing and IT sectors in recent years. South Korea is a crucial economic partner for Vietnam, with a long-standing cooperative relationship in investment and technology transfer. This initiative to bolster collaboration in innovation is seen as part of Vietnam's strategy to upgrade its economic structure and enhance its regional competitiveness. Especially amidst complex relations with China, deepening economic ties with diverse nations, including South Korea, holds significant importance in Vietnam's foreign and economic strategy.