RVC announced the opening of a representative office in South Korea. The representative of the Russian Venture Company will be located in Seoul. The primary goals of the RVC representative will be assistance to Russian technology companies to promote products and services to the Korean market, as well as assistance and advice to the Korean corporations and investors in the Russian market. The RVC representative in Seoul will also help to identify new opportunities for the cooperation between the two countries, both at the institutional level and in the business sphere.
South Korea is one of the priorities of the international activities of the RVC due to a successful experience in the formation of an effective innovation management and development system and of the commercialization of their own development and their launch to the global market.
Key industry focus on the South Korean market is the cooperation in the field of IT and telecommunications (including the Internet of Things), medicine, unmanned transport and new energy.
In recent years, the RVC is making consistent efforts to strengthen interaction with the South Korean partners. I’m convinced that the work of our represenative will help to build a more systematic work between innovative players of the two countries, and therefore provide the Russian technology companies with the real opportunities to develop business on the international market, said Alexander Potapov, the Deputy Head and Chief Executive of the RVC.
Portfolio fund companies established with participation of the RVC capital have already shown interest to enter the Korean market. For example, the "Perm Chemical Company" (PCC) and the company RMT have started interaction with the South Korean partners.
Currently, the foreign RVC network covers the USA, Israel and Singapore. The cooperation between RVC and South Korea began in 2014 with the launch of an introductory educational program for the Russian universities, technology parks and clusters as well as with carrying out the business mission with the participation of the RVC representatives and portfolio companies of the RVC funds. During the worktime, a broad network of partners, which included large Korean government institutes, universities and corporations, was established. To date, the RVC has signed cooperation agreements with the Office of Strategic Science and Research Planning of the Ministry of South Korea's Commerce, Industry and Energy (Office of Strategic R&D Planning (OSP), Ministry of Trade, Industry and Energy), theKorean Techno-Venture Foundation (KTVF), which is part of the Korean Institute of Science and Technology (KIST), the Samsung Research Center. The Russian-Korean technology weeks were held in Moscow and Seoul in 2015 within the framework of this documentation.
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