The Infocomm Development Authority of Singapore (IDA) and the National IT Industry Promotion Agency of the Republic of Korea (NIPA) have signed an agreement covering ICT collaboration between the two countries.
The signing ceremony was held in conjunction with the launch of the Korea IT Cooperation Centre in Singapore by Korea’s Ministry of Science, ICT and Future Planning. Jacqueline Poh, Managing Director of IDA, and Park Sooyong, President of NIPA, signed the agreement.
Korea has selected Singapore as its Southeast Asian hub to host its IT Cooperation Center in support of the expansion of Korean tech start-ups and small and medium-sized enterprises into the ASEAN market.
The agreement is expected to open up more opportunities for partnerships between Singapore and the Korea’s infocomm industries, as well as give tech startups from both countries direct access to each other’s markets.
The agreement also covers cooperation in the areas of ICT policies, manpower development and training, and exchange of thought leadership through seminars and workshops.
"This partnership with IDA is timely, as young Korean tech start-ups are beginning to look to scaling their businesses regionally. Singapore is well-known for the maturity of its start-up ecosystem, and its strong pool of ICT talents," said Park. "Singapore is well-known for the maturity of its startup ecosystem, and its strong pool of ICT talents.