We are creating some awesome events for you. Kindly bear with us.

MOU signed to boost collaboration between Korean and Singaporean companies in technology, wholesale distribution and logistics

MOU signed to boost collaboration between Korean and Singaporean companies in technology

International Enterprise (IE) Singapore has signed a Memorandum of Understanding (MOU) with the Gyeonggi Provincial Government of South Korea today, in line with the agency’s approach to engage governments more deeply at the provincial/city level. IE Singapore is the government agency that promotes international trade and partners Singapore companies to go global.

Comprising 31 cities, Gyeonggi (the province surrounding Seoul), is Korea’s centre of high-tech industries and hosts many world-class companies including Hyundai, Samsung, and SK Group. In 2016, its GDP of S$393 billion and international trade amount of S$271 billion topped all provinces in South Korea.

There are opportunities for Singapore companies to offer their services in partnership with Korean companies to bring Korean brands to ASEAN, capitalising on their existing distribution networks.

This MOU is expected to boost collaboration in technology start-ups, wholesale distribution and logistics. As part of the MOU, IE Singapore and the Gyeonggi Provincial Government will organise business missions, business matching and facilitate Singapore and Gyeonggi-based companies to partner in these areas.

Witnessed by Senior Minister of State for Trade & Industry and National Development Dr. Koh Poh Koon and Gyeonggi Governor, Mr. Nam Kyung-Pil, the MOU was signed by IE Singapore’s Assistant CEO Mr. Tan Soon Kim and Gyeonggi’s Director-General of International Cooperation Dr. Cho Jung-Ah.

Mr. Tan Soon Kim, IE Singapore’s Assistant CEO, said, “This MOU provides a framework for us to engage the Gyeonggi government and facilitate collaboration between our companies. Beyond looking at South Korea as a market, our companies could explore partnerships with their Korean counterparts to jointly access third countries by leveraging each other’s strengths in areas such as technology and distribution network.”

Helping Korean SMEs expand into south-east Asia

There are over 761,000 SMEs in Gyeonggi, including those in consumer products such as beauty, health supplements and textile. Singapore companies in the trading, logistics and e-commerce sectors can provide their services, source for products and services from this large pool of SMEs and enter new markets together with Korean companies.

Many of these Korean SMEs want to expand overseas, especially to tap into the growing consumer market in Southeast Asia. But they may not have the necessary connections in this region, especially in marketing,
distribution and logistics fulfilment.

With strong business networks in Southeast Asia, Singapore wholesale trade companies can collaborate with South Korean companies to jointly distribute their consumer products in the region, further reinforcing Singapore as a trade hub.

IE Singapore has been facilitating tie-ups between South Korean brands and Singapore companies. An example is Luxasia, who is working with South Korean company Clio Cosmetics and entered the Indonesia and the Philippines markets.

Besides wholesale distribution, there is a growing demand for cross-border fulfilment services as South Korean companies look beyond their domestic market to capture the growing e-commerce market. The Asia Pacific e-commerce market is expected to grow Singapore’s strong logistics networks in the region meet the needs of such players.

For example, IE Singapore connected Singpost to Interfashion Planning, South Korea lifestyle and fashion company, to partner them in logistics and marketing to consumers in Southeast Asia.

Singpost is also working with Café 24, another Korean e-commerce business, to provide logistics services for their products in Hong Kong, Taiwan and other markets.

Partnering Korean start-ups

The Korea start-up market has grown significantly since the government introduced the Creative Economy initiatives in 2013. From 2015 to 2016, investments in start-ups increased by 49% in number, and 23% in size, due to government support. Most of the start-ups are in Information and communications technology (ICT) services, ecommerce and healthcare, including e-commerce platform Coupang, and mobile platform operator Yellow Mobile, both of which are part of the Global Unicorn Club.

The MOU will facilitate the entry of Singapore technology start-ups in Gyeonggi and help them access its ecosystem, including co-working spaces, incubators and in-market immersion programmes to help our start-ups gain deeper understanding into the technology scene in South Korea and meet with potential partners.

Featured image: Ken Eckert/ CC BY-SA 4.0


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend