Saudi Arabia and South Korea collaborate to assist Global Startups
A Saudi team is expected to visit South Korea, which will stimulate investments in small and medium-sized enterprises and entrepreneurship. According to the Saudi Press Agency, the visit's main objective was to deepen commercial ties internationally and promote cooperation between the two nations in the area of SMEs to aid in the internationalisation of startups.
Sami Ibrahim Al-Hussaini, the Small and Medium Enterprises General Authority governor, or Monsha'at led the mission to Seoul. The delegation's goal was to empower and support entrepreneurship on a local and global scale. Young Lee, Korea's minister of SMEs and startups, welcomed the Al-Hussaini-led delegation and they had talks to strengthen their cooperation in promoting SME and startup investments between their two countries.
Additionally, the Saudi delegation arranged talks with representatives from government agencies, significant corporations involved in the field, and organisations that support Korean SMEs. The South Korean side suggested holding a national competition during the visit, with the winners receiving a trip to Riyadh to compete in the Entrepreneurship World Cup, a Biban Forum component.