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On July 13 of this year, in the Gyeonggi province (Republic of Korea), Minister of Economy Ilze Indriksone and Governor of the Gyeonggi Province of the Republic of Korea, Dong Yeon Kim, signed a Memorandum of Understanding for cooperation in the fields of startups and innovations.
The Memorandum of Cooperation between the Ministry of Economy and the Gyeonggi Province envisions mutual support for the expansion, development, and entry of startup networks into the markets of Latvia and South Korea, as well as cooperation in sustainable innovation, new technologies, smart mobility, and digitalization.
Latvia and Korea, especially the Gyeonggi province, are united by a focus on innovations and sustainable development, as well as digital solutions across various sectors. "We also share work ethics, democratic values, and creative thinking to overcome challenges and achieve seemingly impossible missions. Together we can effectively address global issues, achieving both local and global goals,” stated the Minister of Economy after signing the agreement.
During the meeting with the Governor of Gyeonggi province, the Minister also discussed potential cooperation in high-tech projects and research programs, including in the fields of biomedicine, biotechnology, and Latvia's Smart Specialization strategies, as well as the space sector, where Latvia boasts well-developed infrastructure, modern science, and technology.
It is known that Minister of Economy Ilze Indriksone, along with a delegation of Latvian entrepreneurs, has been on a working visit to the Republic of Korea (in Seoul, Incheon, and Gyeonggi province) since July 12 of this year to promote bilateral economic cooperation and expand export opportunities for our entrepreneurs in the Asian region.
During the visit, a Memorandum of Understanding was also signed between the Latvian Investment and Development Agency and the Korean investment organization "Eugene Capital and Securities" regarding cooperation in attracting investments, as well as a Memorandum of Understanding between the Latvian Association of Chemical and Pharmaceutical Entrepreneurs and the Korean Biotechnology Industry Organization regarding cooperation in the bio-pharmaceutical sector and health care system.
During the visit, the Minister also inaugurated the international biomedicine and biotechnology exhibition "Bioplus Interphex Korea", where Latvia has been granted honorary country status for the first time. Meetings are also planned with the Minister of Trade, Industry, and Energy of the Republic of Korea, the Minister of Science and ICT, and the Mayor of Incheon, as well as planned visits to several science and biotechnology centers.
Minister of Economy Ilze Indriksone is accompanied on the visit by the Ambassador Extraordinary and Plenipotentiary of Latvia to the Republic of Korea, H.E. Āris Vīgants. The visit will conclude on July 14 of this year.