Korean businesses talk innovation, digital strategy at Mekong business forum

The 12th Mekong-ROK Business Forum discussed strengthening SME partnerships in the Mekong region through digital transformation and environmentally friendly innovation.

Deputy Foreign Minister Chung Byung-won speaks during the 12th Mekong-ROK Business Forum in Vientiane, Laos, on Aug. 20, 2024. [YONHAP]

A business forum took place this week in Vientiane, Laos, to explore ways to strengthen partnerships among small- and medium-sized enterprises (SMEs) in Korea and the five countries along the Mekong River — Laos, Cambodia, Thailand, Myanmar and Vietnam — Seoul's foreign ministry said Wednesday.

The 12th Mekong-ROK Business Forum took place in the Laotian capital on Tuesday, with more than 100 government officials and business representatives from the countries.

The participants shared information regarding the current state of their SME markets and discussed strategies for building SME capacity through digital transformation and environmentally friendly innovation, the ministry said in a release.

In his opening remarks, Deputy Foreign Minister Chung Byung-won emphasized that 99 percent of Mekong firms are SMEs, which play a crucial role in the region's economy.

He also noted that the forum has functioned as an initiative for economic cooperation between Korea and the Mekong countries over the past decade and reaffirmed Korea's commitment to strengthening cooperation.

The annual forum, inaugurated in 2013, is an opportunity for Korea to enhance cooperative momentum with the Mekong region, which has significant growth potential, and to support Korean SMEs exploring business opportunities in the region, the ministry said.

Yonhap