The information and telecommunications authorities of Singapore and South Korea have signed a memorandum of understanding (MOU) to help with the expansion of South Korean technology firms into the Southeast Asian market, the Infocomm Development Authority of Singapore said on Monday.
The authority said that the MOU was signed on Friday between it and the National IT Industry Promotion Agency of South Korea after South Korea picked Singapore as its Southeast Asian hub to site an IT Cooperation Center.
The collaboration will open up more opportunities for partnerships between Singapore and South Korea's information and telecommunications industries, and give tech startups from both countries direct access to each other's markets, it said.
The MOU also covers cooperation in the areas of industry policies, manpower development, and exchange of thought leadership through seminars and workshops.