K-Business Day in Middle Eat 2023 is set to take place at the Dubai World Trade Centre on 12th and 13th June, with the participation of Abdullah bin Touq Al Marri, Minister of Economy; and Lee Young, South Korean Minister of SMEs and Startups.
The event, to be hosted by the Ministry of Economy and South Korean Ministry of SMEs and Startups, will bring together more than 100 Startups from the UAE and 80 Enterprises from South Korea. Other organisers include investment institutions and business incubators from both countries, such as Korea Federation of SMEs, Korea Institute of Startup & Entrepreneurship Development, Korea SMEs and Startups Agency, Korea Technology and Information Promotion, INNOBIZ Innovation Association, Korea Medical Device Association (KMDA), and the UAE’s Entrepreneurial Nation.
The hosting of the event reflects both countries’ shared commitment to enhancing bilateral relations on the investment and trade fronts. It is the outcome of one of the MoUs signed by the Ministry of Economy and South Korean Ministry of SMEs and Startups in January 2023, during South Korean President Yoon Suk Yeol’s visit to the UAE.
Through the hosting of the event, the Ministry of Economy aims to enable entrepreneurs in the UAE and Korea to explore sustainable partnerships in the Technology, AI, Smart Farming, Medical, Energy, Media and Security sectors, and support the access of SMEs to both markets. This will contribute to the sustainable development of both economies and create new fields for UAE startups to grow and prosper. These efforts fall in line with the Ministry’s strategy to develop the national entrepreneurship landscape in collaboration with relevant government entities, the private sector, and concerned global institutions. They also align with the goals of the ‘We the UAE 2031’ vision aimed at consolidating the UAE’s position as a leading global hub for new economy, future industries and investment in these sectors.
K-Business Day in Middle Eat 2023 is a key event that targets enhancing partnerships between startups in the UAE and South Korea. It brings together investors and business incubators from both countries to explore the available investment opportunities offered by entrepreneurial ideas and startups participating in the event. Besides, it promotes the exchange of expertise and knowledge to encourage SMEs to expand to new economy sectors. The event achieves its goals through three sessions and the ‘Korean Business Day in the Middle East’ is its main forum. Other sessions focus on technology exchange between Korea and the Middle East and partnerships between startups operating in the field of engineering innovation and inventions using advanced technology.
News Source: Emirates News Agency