The Jeonbuk Creative Economy Innovation Center held a pre-conference for the “MEGA US Expo 2024” on July 11 at its partner organization, Saigon Innovation Hub, in Ho Chi Minh City, launching full-scale promotion to local media and partners.

Now in its third year, the “MEGA US Expo” aims to promote startup exchange between Korea and Vietnam and will take place in Ho Chi Minh City, Vietnam’s largest city. Sponsored by Hyosung Corporation, the event will feature approximately 200 startups from both domestic and international locations, 10 universities nationwide, 6 technoparks, and 3 innovation centers, involving 27 domestic institutions, making it the largest event to date.

Originally planned to help domestic startups enter overseas markets amid the end of the COVID-19 pandemic in 2022, the event initially focused heavily on export-oriented exhibition booths for Korean companies. However, since the agreement between the Jeonbuk Center and the Ho Chi Minh City Department of Science and Technology last year, additional programs such as “UnivStar,” an entrepreneurship and startup idea competition for university students from both countries, have been added.

This year, the event will expand further with the inclusion of “VentureStar IR,” an investment program involving around 20 multinational venture capital firms from Korea, Vietnam, France, Singapore, and more. Additionally, a “Live Commerce” event will utilize local influencers to target the online market, enhancing comprehensive exchanges between startups from both countries.

During the “MEGA US Expo Conference,” in line with the event’s expansion, approximately 1,000 heads of business organizations (including women, youth, and middle-aged groups) based in Ho Chi Minh City were appointed as ambassadors and encouraged to participate in the “MEGA US Expo 2024,” helping to secure various partners for Korean companies.

Amid the recent establishment of a ministerial-level consultation body between Korea’s Ministry of SMEs and Startups and Vietnam’s Ministry of Science and Technology, and the signing of an MOU to develop the startup ecosystem in both countries, the Jeonbuk Center is leveraging the “K-Startup Center,” selected in 2023, to target the two key cities of Ho Chi Minh and Hanoi.

During the conference, the Jeonbuk Center plans to meet with key institutions under the Vietnamese Ministry of Science and Technology, such as NATEC (National Agency for Technology Entrepreneurship and Commercialization Development) and NSSC (National Startup Support Center), to further expand exchanges on creating a startup ecosystem represented by the “Center for Creative Economy and Innovation.”

Kang Young-jae, head of the Jeonbuk Center, stated, “As Vietnam has long been highlighted as an emerging promising market for startups, I have high expectations as our efforts over the past few years are gradually bearing fruit,” adding, “I believe that exchanges between startups will also enhance the relationship of exchange and cooperation between local governments of both countries.”