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ASEAN-Korea Centre

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ASEAN and Korea to seek closer cooperation for ICT startups

No.PR/18-34Date6 September 2018
ContactProgram Inquiries: Kim Hye-ji, Senior Officer, TIU (+82-2-2287-1127, hjkim@aseankorea.org)
Press Inquiries: Hwang Ji-seon, Senior Officer, IDU (+82-2-2287-1149, hjs@aseankorea.org)
ASEAN-Korea Centre is an International Organization mandated to promote economic and socio-cultural cooperation between ASEAN Member States and Korea.

ASEAN and Korea to seek closer cooperation for ICT startups

- ASEAN-Korea Centre and Gyeonggi Center for Creative Economy & Innovation to organize the ASEAN-Korea Startup Week in Korea (11-13 September) -

Seongnam, Korea – The ASEAN-Korea Centre (Secretary General Lee Hyuk) and the Gyeonggi Center for Creative Economy & Innovation (GCCEI) will jointly organize the ASEAN-Korea Startup Week from 11 to 13 September in Seongnam-si, Gyeonggi Province, Korea. 54 ICT startup CEOs and government officials from eight ASEAN countries – Brunei, Cambodia, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam – will gather in Korea to share government policies, initiatives, and incentives to promote ICT startups in their respective countries, pitch their ideas to Korean venture capitals, conduct visits to startup incubators in Korea, and build business networks with their Korean counterparts.

Lee Hyuk, Secretary General of the ASEAN-Korea Centre noted that, “ASEAN is home to unicorns such as Grab, Go-jek, Tokopedia, and Traveloka, grabbing the attention of global venture capitals. Their investments in ASEAN ICT startups has shown a 53.8% annual increase over the past decade and reached 7.9 billion USD in 2017, an increase of 119.4% from the previous year. Recognizing the growing importance of ASEAN-Korea cooperation for ICT startups in the era of Industry 4.0, the ASEAN-Korea Centre will organize the ASEAN-Korea Startup Week for the first time this year. I hope the program will bring a win-win outcome not only by allowing ASEAN’s home-grown startups to attract further Korean investment but also by paving the way for Korean startups and venture capitalists to expand their footholds in the ASEAN region.” 

The ASEAN-Korea Startup Week is composed of three programs: The Investment Facilitation Seminar, Demo Day for ASEAN Startups, and industrial visits to ICT startup incubators in Korea. On 12 September, the Seminar will be held at the Startup Campus of Pangyo Techno Valley. Government officials from ASEAN and Korea will present government policies and incentives to promote startups in their respective countries. One-on-one business meetings and a networking business luncheon will enable the participants to build networks for business collaborations.

On 13 September, the opening ceremony of the ASEAN-Korea Startup Week will be held where Secretary General Lee Hyuk, GCCEI CEO Lee Kyungjun, Deputy Minister of the Ministry of SMEs and Startups of Korea Seok Jong-hoon, and Singapore Ambassador to Korea Yip Wei Kiat will deliver remarks. At the pitching session, two companies from each of the eight ASEAN countries will be offered an opportunity for pitching to 200 Korean startup companies and venture capitals. In the following session, David Yong-Duk Lee from NVIDIA Korea will give a lecture on the theme of ‘AI & Future Technology’ for the participating startups. 

On 11 September, ASEAN startups and government officials will pay a visit to GCCEI and Pangyo Techno Valley to gain first-hand knowledge on Korean government’s support policies for its ICT startup companies.


- Press Release file


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