14 July 2014 - Singapore and the Republic of Korea (ROK) strengthen ICT collaboration, with the signing of a Memorandum of Understanding (MOU) between the Infocomm Development Authority of Singapore (IDA) and the National IT Industry Promotion Agency of the Republic of Korea (NIPA) last Friday.
Singapore, 14 July 2014 | For Immediate Release
Singapore strengthens ICT collaboration with the Republic of Korea
Singapore and the Republic of Korea (ROK) strengthen ICT collaboration, with the signing of a Memorandum of Understanding (MOU) between the Infocomm Development Authority of Singapore (IDA) and the National IT Industry Promotion Agency of the Republic of Korea (NIPA) last Friday. The signing ceremony was held in conjunction with the launch of the Korea IT Cooperation Centre in Singapore by the Republic of Korea’s Ministry of Science, ICT and Future Planning. The MOU was signed by Ms Jacqueline Poh, Managing Director of IDA and Mr Park Sooyong, President of NIPA.
To support the expansion of Korean tech startups and small and medium-sized enterprises into the ASEAN market, the Republic of Korea has selected Singapore as its Southeast Asian hub to site its IT Cooperation Centre. The signing of the MOU will open up more opportunities for partnerships between Singapore and the Republic of Korea’s infocomm industries, and give tech startups from both countries direct access to each other’s markets.
Ms Jacqueline Poh, Managing Director of IDA, said: “Singapore and the Republic of Korea share a vision of developing knowledge-based creative economies, and using technology to enhance the quality of citizens’ lives. We are encouraged that the Republic of Korea sees Singapore as a good launchpad for Korean tech startups to make inroads into the large and growing Southeast Asian markets. We look forward to supporting their expansion with the strong accelerator and investor community we have here.”
The MOU also covers cooperation in the areas of ICT policies, manpower development and training, and exchange of thought leadership through seminars and workshops.
Mr Park Sooyong, President of NIPA, said: “South Korea’s entrepreneurship ecosystem has been bustling with activity and growth over the past few years, led by social mobile services. This partnership with IDA is timely, as young Korean tech startups are beginning to look to scaling their businesses regionally. Singapore is well-known for the maturity of its startup ecosystem, and its strong pool of ICT talents. We are excited to create new global tech innovations together with Singapore.As part of the centre launch, a Demo Day was also held where ten Korean tech startups showcased their innovations to the investor community active in Singapore, including Rakuten Ventures and Formation 8. These startups, with products covering e-commerce, mobile commerce, cloud computing, big data and Internet of Things (IOT), are seeking to secure funding for expansion into the Southeast Asian market.
JOINTLY ISSUED BY INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE AND NATIONAL IT INDUSTRY PROMOTION AGENCY
About Infocomm Development Authority of Singapore
The mission of the Infocomm Development Authority of Singapore (IDA) is to develop information technology and telecommunications within Singapore with a view to serve citizens of all ages and companies of all sizes. IDA does this by actively supporting the growth of innovative technology companies and start-ups in Singapore, working with leading global IT companies as well as developing excellent information technology and telecommunications infrastructure, policies and capabilities for Singapore. For more news and information, visit www.ida.gov.sg.
About National IT Industry Promotion Agency
NIPA devotes itself to reinforcing the competitiveness of the IT industry and contributes to the economic growth through the efficient support and laying the groundwork for the industrial technology promotion. Its key roles include:- Policy research and development support for the IT industry
- Help establish the foundation of the IT industry and cultivate its human resources
- Vitalize the distribution market for the development of the IT industry and support marketing
- Promote businesses related to the convergence and utilization of IT technology
- Support international exchange, cooperation, and overseas expansion related to the IT industry
For more news and information, visit http://www.nipa.kr/eng/main.it
For media clarification, please contact:
Teresa TAN (Ms)
Manager, Corporate and Marketing Communication
Infocomm Development Authority of Singapore
DID: (65) 6211 1745
Email: Teresa_TAN@imda.gov.sg
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