A Strategic Collaboration Between Vietnam and South Korea
Ho Chi Minh City is accelerating its ambition to become a regional financial and innovation hub through strengthened collaboration with South Korea. On August 12, the Department of Science and Technology of Ho Chi Minh City hosted a working session with a delegation from Jeonbuk Province and Korean Technopark, ahead of their participation in Mega Us Expo 2025.
This engagement reflects a broader effort to deepen bilateral cooperation in innovation, startups, and SME development, aligning with Vietnam’s long-term strategy to integrate into global capital and technology ecosystems.
SIHUB as a Gateway for International Startups
Prior to the meeting, the Korean delegation visited the Ho Chi Minh City Innovation and Startup Hub (SIHUB), which is expected to officially launch in August 2025. Positioned as the largest startup hub in southern Vietnam, SIHUB is designed to connect startups with investors, corporations, and international partners.
A dedicated zone for international partners is expected to provide legal advisory, business support, and market entry services, making SIHUB a strategic gateway for foreign startups entering Vietnam and for Vietnamese startups expanding abroad.
Expanding Cross-Border Startup and Investment Ecosystems
Discussions during the session focused on strengthening collaboration in innovation and entrepreneurship. Korean Technopark highlighted plans to support Vietnamese startups, including selecting top-performing startups from Mega Us Expo 2025 to participate in business acceleration programs in South Korea.
Jeonbuk Province also shared its ongoing cooperation with Vietnamese localities and introduced initiatives to attract foreign startups. These include financial support programs, startup visas, and market entry incentives for Vietnamese entrepreneurs looking to expand into Korea.
Policy Alignment and High-Level Economic Cooperation
The cooperation is further reinforced by high-level economic engagement between the two countries. During a state visit to South Korea, Vietnamese and Korean leaders witnessed the signing of strategic agreements between the National Innovation Center (NIC), Nextrans Investment Fund, and the Global Green Growth Institute (GGGI).
These agreements focus on fostering innovation ecosystems, promoting technology transfer, and supporting sustainable and green startup initiatives, signaling strong policy alignment between the two nations.
Toward a Regional Financial and Innovation Hub
With the upcoming launch of SIHUB and increasing international partnerships, Ho Chi Minh City is positioning itself as a convergence point for capital, innovation, and entrepreneurship in Southeast Asia.
Beyond startup support, these developments lay the groundwork for a broader financial ecosystem, reinforcing the city’s potential role in Vietnam’s emerging international financial center strategy. If effectively executed, this integrated approach could accelerate the city’s transition into a key node within regional and global innovation networks.
