SINGAPORE – Small and medium sized information technology (IT) companies in South Korea and Singapore can look forward to more opportunities for cooperation and growth as the two countries inked a Memorandum of Understanding (MoU) on Information and Communications Technology (ICT) collaboration last Friday.
In conjunction with the MoU, South Korea’s Ministry of Science, ICT and Future Planning launched the Korea IT Cooperation Center in Singapore to support the expansion of Korean tech start-ups and SMEs into the ASEAN market.
“Singapore and the Republic of Korea share a vision of developing knowledge-based creative economies, and using technology to enhance the quality of citizens’ lives,” said Jacqueline Poh, Managing Director of the Infocomm Development Authority of Singapore (IDA).
Singapore was selected as the Center’s Southeast Asian hub due to its mature start-up ecosystem and strong pool of ICT talents, said Park Sooyong, President of the National IT Industry Promotion Agency (NIPA) in South Korea.
The signing of the MOU will open up more opportunities for partnerships between the two countries’ infocomm industries and give tech startups from both countries direct access to each other’s markets, according to the press statement.