South Korea’s vibrant corporate ecosystem filled with opportunities: DPM Heng
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Deputy Prime Minister Heng Swee Keat (right) with South Korean Deputy Prime Minister and Education Minister Lee Ju-Ho in Seoul, on Nov 19.
PHOTO: MDDI
SINGAPORE – After a working visit to South Korea, Deputy Prime Minister Heng Swee Keat described the country as having a “vibrant corporate ecosystem” that holds great promise and opportunities.
DPM Heng, who was in South Korea between Nov 17 and 21, said in a Facebook post on Nov 21 that he met start-ups and investors, gaining insights into South Korea’s “new economy” driven by research and development and innovation.
“Our local institutions like Nanyang Technological University are actively driving collaborations in (the) Republic of Korea in this area, and I look forward to many new milestones ahead,” said DPM Heng, who is also chairman of the National Research Foundation.
He noted that around 10 per cent of South Korean graduates study arts-related courses, which builds a strong pipeline of talent for creative sectors such as K-pop and television shows.
“In Singapore, our University of the Arts will be enrolling students this year, and I look forward to their success in developing talent for the creative industry,” DPM Heng said.
During his visit, DPM Heng also met South Korean Deputy Prime Minister and Education Minister Lee Ju-ho, senior secretary to the president for science and technology Park Sang-wook, and Bank of Korea governor Rhee Chang-yong.
A statement from the Ministry of Foreign Affairs on Nov 21 said the meetings reaffirmed the “robust and longstanding partnership” between Singapore and South Korea and the commitment towards upgrading bilateral relations to a strategic partnership in 2025.
DPM Heng Swee Keat (far right) met government officials, start-ups and investors during his working visit to South Korea.
The upgrade would coincide with the 50th anniversary of the establishment of diplomatic ties between Singapore and South Korea, the statement said.
DPM Heng and South Korean corporate leaders, start-ups and academics discussed how both countries can step up collaborations in the fields of deepening regional economic integration and harnessing science, technology and innovation, the statement said.
They also explored developing policies and programmes to support people in the face of economic and social challenges, such as an ageing population.
By 2030, around one in four Singapore citizens will be aged 65 and above.
DPM Heng also travelled to Gyeonggi province, where he was hosted to dinner by Governor Kim Dong-yeon, the statement said.
DPM Heng and Dr Kim discussed ways in which Singapore and Gyeonggi province – the largest province in South Korea – could step up cooperation in the areas of artificial intelligence, science and technology, as well as exchanges between researchers, students and youth.
In Gyeonggi, DPM Heng also visited Pangyo Technovalley and Gwanggyo Bio Hub to learn about the province’s efforts to develop its innovation ecosystem.
