KISED, LIAA to sponsor SME and startup entry to mutual countries

[Photo provided by KISED]

The Korea Institute of Startup & Entrepreneurship Development (KISED) said Wednesday it has signed a memorandum of understanding with its Latvian counterpart Latvian Investment and Development Agency (LIAA) to foster the growth of their startups and SMEs.

Under the partnership, they will back startups’ entry into their countries and help their networking and cooperation on inbound system such as visa issuance for startups, as well as jointly sponsoring promotional activities.

South Korean startups and small- and mid-sized enterprises (SMEs) can make easier inroads into Latvia under the sponsorship from the two governments, and vice versa for startups from Latvia.

The two agencies agreed to continuously explore various collaborations, share business visa information for strengthened competitiveness, and boost exchanges between startups of both countries with various events.

Latvia is well known for its well-established industry ecosystem for startups in the fields of the fourth industrial revolution technologies like blockchain and artificial intelligence, said Kim Yong-moon, president of KISED, adding that the partnership will lead to successful collaboration on incubation of startups of both countries.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]