By Min Yea-Ji and Lee Jihae
Photos = Kim Sunjoo
Seoul | June 7, 2019

The Ministry of SMEs and Startups on June 7 said it will shore up its cooperation with startups to implement the initiatives reached by President Moon Jae-in during his three-nation tour of Northern Europe from June 9-16.

In a news conference at Seoul Press Center to explain the goals of the president's upcoming trip, the ministry said the economic delegation to accompany him on his state visits will be the nation's first to mainly comprise startups.

"The startup ecosystem is considerably developed in Northern Europe and thus demand for cooperation is high," the ministry said, adding, "The latest state visits will bolster innovation in the startup sectors of Finland and Sweden."

Comprising 53 startups and 13 medium to large companies, the delegation was selected primarily from fields considered most likely to succeed abroad, including 5G, self-driving vessels, biotechnology, artificial intelligence, eco-friendly information and communications technology, health care, and the online-to-offline sector. The companies will work with representatives from startups and the related ecosystem to seek "liberal innovative growth."

Korea startup centers (KSCs) will be launched to help Korean startups gain a foothold in the Northern European market. Slated to open next year in Helsinki and Stockholm, the KSCs will serve startups from Korea and the host country as well as provide a platform to allow innovative entities to cooperate.

SMEs and Startups Minister Park Young-sun said, "The role of small and medium venture companies and startups is pivotal to fulfill the state visits’ goals of achieving innovative growth and becoming an inclusive country."

"We will strive to support innovation and foster new businesses." 

jesimin@korea.kr