South Korea and Sweden sign two MOU’s on industry, innovation and startups

During a State Visit by Korean President Moon Jae-In to Sweden, on June 14 and 15, several agreements were made. Two MOU’s were signed in the presence of the Korean President and the Swedish Prime Minister Stefan Löfven. Together with his South Korean counterparts, Minister for Business, Industry and Innovation Ibrahim Baylan signed for the Swedish side.

Startups and Scaleups

One of the MOU’s concerns cooperation on start-ups and small and medium-sized enterprises with the South Korean Ministry of SMEs and Startups, MSS, and Minister Young Sun Park. The memorandum covers various forms of experience exchange, sharing of information and cooperation concerning issues such as gender equality. One important part of the memorandum focuses on establishing a Korean Startup Centre in Sweden. This will facilitate establishment in the market and exchange for innovative fast-growing startups and scaleups from both South Korea and Sweden.

Joint Industrial Cooperation

The other memorandum concerns cooperation in the areas of industry, technology, innovation and enterprise, and was entered into with the South Korean Ministry of Trade, Industry and Energy, MOTIE, and Minister Yunmo Sung. The memorandum covers technological cooperation, experience exchange concerning policy development, gender equality, mobility and skills exchange, and facilitating R&D cooperation in the private sector. An important output is the establishment of a Joint Industrial Cooperation Committee that will facilitate dialogues between our countries.

Happy tweets

The Ministry of Enterprise and Innovation enthusiastically tweeted about the MOU’s in Korean, to find the Ministry of SMEs and Startups responding with a tweet in Swedish.

Tweet in Korean by the Swedish Ministry of Enterprise and Innovation.
Tweet in Swedish by the Ministry of SMEs and Startups.