Vice Minister No Yongseok of SMEs and Startups Meets with Chief Executive of Enterprise Singapore to Discuss Startup Development

Meeting with Cindy Khoo, Chief Executive of Enterprise Singapore Introduction of SVC Seoul and the "Startup for All" Project

The Ministry of SMEs and Startups announced on the 9th that First Vice Minister No Yongseok met with Cindy Khoo, Chief Executive of Enterprise Singapore, to discuss ways to strengthen cooperation between the two countries' startup ecosystems.

Noh Yongseok, Deputy Minister of the Ministry of SMEs and Startups, is giving a briefing on the 2026 budget plan for the Ministry of SMEs and Startups at the annex of the Government Seoul Office in Jongno-gu, Seoul on September 2, 2025. Photo by Jo Yongjun

The leaders of both countries first met in Singapore in 2018 and signed a Memorandum of Understanding on SME and Startup Cooperation, which was renewed in August 2024. Since then, the two countries have actively collaborated across various fields, including participation in the joint startup events 'Korea-COMEUP' and 'Singapore-SWITCH'.

In March this year, the Ministry held a bilateral meeting with Lee Chuan Teck, Chairman of Enterprise Singapore, in conjunction with the official visit of the Singaporean leader. During the meeting, they discussed ways to reinforce the regional startup cooperation network with Singapore by utilizing the 'APEC Startup Alliance' as a key platform.

This latest meeting, held in Korea, served as a follow-up to the previous discussions. Singapore expressed great interest in Korea's startup support policies. Vice Minister No introduced the newly opened Startup Venture Campus Seoul (SVC Seoul), the "Startup for All" project, and the "Startup City Project" conducted in collaboration with local governments. He also shared updates on the "First Government Procurement Project," which had drawn interest from the Singaporean side during the previous meeting.

The two countries also focused on expanding exchanges between Korea's largest startup event, COMEUP, scheduled for December, and Singapore's flagship startup event, SWITCH.

Vice Minister No stated, "Singapore is the financial hub of Southeast Asia and boasts global competitiveness in the startup sector. Building on this meeting, we will actively support more practical exchanges between startups from both countries."

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