Gyeonggi Province Hosts Online Educational Briefing on Russia Market Entry for Startup Companies

[Suwon Ilbo=Park No-hun Reporter] Gyeonggi Province and the Gyeonggi-Russia Technology Cooperation Center held an online educational briefing on Russian business on the 17th, targeting resident and graduate companies of startup incubation centers throughout the province.

This educational briefing marks the second such event since last year, following an agreement signed in April of last year between the Gyeonggi-Russia Technology Cooperation Center and five startup incubation centers in the province regarding joint operation of Russia technology cooperation programs.

The educational briefing, held to support technology innovation and Russia market entry for rapidly growing startups, was conducted online for three and a half hours from 2:00 p.m. to 5:30 p.m. that day, with the participation of 50 startup companies from Hanyang University ERICA, Sungkyunkwan University, and the Gyeonggi Small Business Growth Support Center.

The educational sessions consisted of the following topics: ▲Russia's economic conditions and market entry strategies in the COVID-19 era ▲excellence of Russian core technologies and Korea-Russia cooperation cases ▲legal considerations for companies in Gyeonggi Province entering the Russian market ▲overview of Russian business practices.

Since establishing the Gyeonggi-Russia Technology Cooperation Center in October 2019 to strengthen mutually beneficial cooperation through technology collaboration between Russia and companies in Gyeonggi Province, the province has been regularly hosting online educational briefings and online consultation sessions as customized support projects for startups, thereby encouraging active participation from startup companies in the province.

A provincial official stated, "We will introduce promising Russian technologies to innovative startup companies that continuously pursue new challenges and attempts, create a platform for collaboration, and serve as a stepping stone for startups to succeed as global companies."

Yoon Jong-sik, Director of the Gyeonggi-Russia Technology Cooperation Center, said, "We hope that this educational briefing will provide startup companies with the opportunity to properly understand the Russian market, legal systems, and the excellence of core technologies, and to establish directions for cooperation with Russian companies."

Going forward, the Gyeonggi-Russia Technology Cooperation Center plans to serve as a key bridge between Gyeonggi Province and Russia through projects including Russian innovative technology commercialization support, Russian innovation task discovery and advancement consulting services, and Russian business support initiatives.