S.Korean startups sign 66 MOUs worth over $15mn to bring various technologies to Vietnam

Representatives of South Korean startups at InnoEx 2026, held in Ho Chi Minh City in August 2026. Photo: Busan Center for Creative Economy & Innovation

According to the Busan Center for Creative Economy & Innovation (BCCEI), the deals were signed under the '2026 Seuseuro Project,' a global acceleration program designed to help startups from outside South Korea's capital region enter the Vietnamese market.

As part of the program, 20 startups visited Ho Chi Minh City from August 17 to 21 for business meetings and networking activities.

All of them came from regions outside South Korea's capital, Seoul.

During their five-day stay in Ho Chi Minh City, the startups took part in business-to-business and buyer meetings, operated a joint booth at InnoEx 2026, a Vietnamese exhibition for innovative businesses, and participated in networking and other meetings held as part of the event.

Of the 66 MOUs signed, those deals involving investment consideration accounted for the largest share, at $5.1 million.

This was followed by purchasing and distribution partnerships worth $4.93 million, technology proof-of-concept (PoC) projects worth $4.21 million, and business and technology partnerships worth $1.45 million.

Notably, 25 of the deals involved technology pilot projects.

Under these agreements, the startups' technologies will be applied to production environments in Vietnam, Seoul Economic Daily reported.

The MOUs have a combined value of $15.69 million.

BCCEI said the projects could pave the way for further cooperation aimed at bringing the technologies into practical use.

DRB Dongil, one of the program's partners, also visited a factory in Vietnam to explore potential cooperation opportunities.

BCCEI said it would continue supporting the 20 startups after the program, including through mentoring to assess their results.

It will also monitor the implementation of the agreements, with the goal of turning them into actual export contracts and joint ventures.

"Participating companies focused on finding direct opportunities in the Vietnamese market and turning the areas of cooperation into concrete plans," said Kim Yong Woo, executive director of BCCEI.

"We will do our utmost to support the companies and help turn these opportunities into actual contracts and market implementation."