Singapore inks cooperation deal with Korean province

The deal plans to engage the respective governments at the provincial level.

International Enterprise (IE) Singapore, primary government agency that promotes international trade and helps Singapore companies scale globally, has inked a memorandum of understanding (MOU) with Gyeonggi provincial government to boost collaboration in tech start-ups, wholesale distribution and logistics.

Gyeonggi is Korea’s high-tech industry centre which surrounds the capital, Seoul.

The MOU enables Singapore companies to discuss potential business partnerships in South Korea as well as partner with South Korean companies trying to break into Southeast Asia through Singapore through business missions and matching initiatives.

It will also facilitate tech startups to enter Gyeonggi’s market and access its rich ecosystem.

“Beyond looking at South Korea as a market, our companies could explore partnerships with their Korean counterparts to jointly access third countries by leveraging each other’s strengths in areas such as technology and distribution network,” said IE Singapore assistant CEO Tan Soon Kim.