Vietnam, South Korea partner for advanced innovation
Cooperating with South Korea is expected to foster innovation, entrepreneurship and green transition in Vietnam.
THE HANOI TIMES — Vietnam has signed cooperation agreements with South Korean venture capital firm Nextrans and the Global Green Growth Institute (GGGI) to channel investment into startups, establish a National Innovation Fund and advance green technology initiatives.
The deals, sealed at the Vietnam–Korea Economic Forum during Party General Secretary To Lam’s state visit to South Korea from August 10-13, aim to expand access to international funding for Vietnamese startups, strengthen climate-tech innovation and promote public–private partnerships.
The signing ceremony of the cooperation agreements between the NIC, Nextrans, and GGGI. Photo: NIC
At the forum, To Lam praised South Korea’s contributions to building the National Innovation Center the NIC, highlighting SK Group’s support for the center’s facilities. He expressed confidence that joint efforts in science, technology, and innovation could help Vietnam achieve a “Red River Miracle.”
The NIC–Nextrans partnership will provide early-stage Vietnamese startups with venture capital, training, mentoring, and global networking, alongside the creation of a National Innovation Fund.
The NIC–GGGI agreement will focus on innovation aligned with the UN’s 2030 Sustainable Development Agenda and the Paris Agreement, fostering climate-tech startups (including AI-powered solutions), developing green industries, and advancing clean hydrogen investment from policy planning to a national technology demonstration center.
Plans also include integrating GGGI’s Green Transition Lab platform into NIC systems, building digital partnerships, and linking Vietnamese innovators with global markets.
