General Secretary of the ASEAN-Korea Centre Lee Hyuk (Photo: VNA)
Seoul (VNA) – The ASEAN-Korea Startup Week opened on September 13in Seongnam city, the Republic of Korea (RoK)’s Gyeonggi province.
The event, jointly held by the ASEAN-Korea Centre and the Gyeonggi Centre forCreative Economy and Innovation, aimed to bolster startup in information andcommunications technology (ICT) in the ASEAN member countries.
The investment promotion conference held within the week gathered officialsfrom eight ASEAN nations including Brunei, Cambodia, Indonesia, Malaysia, thePhilippines, Singapore, Thailand and Vietnam, and 54 managing directors ofstartups in ICT sector. They shared government policies, initiatives, andincentives to promote ICT startups in their countries, and pitched businessideas to Korean venture funds.
Bilateral meetings between businesses took place on the sidelines of theconference, creating opportunities to set up business cooperation network.
General Secretary of the ASEAN-Korea Centre Lee Hyuk said that ASEAN is home tosuch startups as Grab, Go-jek, Tokopedia and Traveloka, which have grabbed theattention from global venture funds. Their investments in the ASEAN ICTstartups rise average 53.8 percent each year over the past decade to reach 7.9billion USD in 2017.
Besides bolstering startup in ICT in ASEAN countries, the organising boardhoped that the week will pave the way for Korean startups and venture funds toincrease their presence in ASEAN, he said.-VNA
ASEAN and the Republic of Korea (RoK) have huge potential to step up their comprehensive economic cooperation in the coming time, experts said at the ASEAN – RoK economic partnership forum.
The Association of Southeast Asian Nations (ASEAN) has become the second largest export market for agricultural and livestock products from the Republic of Korea (RoK) last year as the country's trade with China was hit by a diplomatic row, according to a report by the Korea Rural Economic Institute (KREI).
Vietnam will work with other member nations of the Association of Southeast Asian Nations (ASEAN) to develop the strategic partnership between the bloc and the Republic of Korea (RoK) in a more comprehensive manner.
The relations between ASEAN and the RoK have become more diverse and closely connected beyond simply having diplomatic ties, said Lee Hyuk, Secretary General of the ASEAN-Korea Centre at the Media Invitation Roundtable held in Seoul on June 25.
Foreign ministers of ASEAN countries held meetings with their counterparts from the bloc’s partners, including the Republic of Korea (RoK), Canada, Australia, the US, and the European Union (EU), in Singapore on August 3.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
General Secretary of the ASEAN-Korea Centre Lee Hyuk (Photo: VNA) 
