Opening of Seoul Startup Hub Ho Chi Minh, Seoul’s First Global Startup Hub
Economy & Investment News
The Seoul Metropolitan Government (SMG) opened Seoul Startup Hub Ho Chi Minh in Vietnam.
Seoul Startup Hub Ho Chi Minh aims to help domestic startups lay the foundation for its expansion into overseas markets through aggressive support from international public agencies. This first global hub of Seoul Startup is the first international case of the SMG’s startup support policy being implemented as a startup support program.
Seoul startups that wish to expand their business in Vietnam will receive comprehensive support through customized assistance–from office space and commercialization to technological exchanges and network opportunities with local companies as well as partnering with investors and establishing international corporations.
The SMG is looking for opportunities in Vietnam, a rapidly rising market that is breaking records in terms of the number of startups and sales. The Ho Chi Minh hub will become a platform to bring about tangible outcomes related to the advancement of Korean startups and boost networks which can promote commercialization of global technology.
Seoul startups attracted massive foreign investment lately and expanded its power in overseas markets. Seizing this opportunity, the SMG plans to forge strong networks between public and private sectors, and closely collaborate with international public agencies and organizations, global companies, financial institutions and others.
The SMG has supported startups in Seoul to penetrate the global market and Asian market, where the demand for the technologies of Korean startups is particularly high, through a network of Vietnamese and Chinese governments, overseas private investment institutions such as LongHash, a Singapore accelerator, and other specialized entities in different industries.