Vietnam to launch “Innovation Network” in South Korea
The Vietnam Innovation Network in the Republic of Korea (VINK) launches today.
The VINK will promote scientific and technological innovation among Vietnamese expats in South Korea and increase scientific and technological cooperation and collaboration between the two countries. Currently consisting of 16 members, the network will host five webinars over the next five months to discuss startup investment funding and challenges facing Korean industrial firms.
VINK is part of Vietnam’s larger Innovation Network project, launched in 2018, meant to increase government investment in Industry 4.0. Focusing on new technology such as big data, cloud software, and the internet of things, Industry 4.0 will continue to push Vietnamese advanced industrialization. VINK will facilitate bringing back critical Vietnamese expertise from outside the country and increased investment in STEM education, particularly in computer science, to upskill Vietnam’s labor force and promote innovation.
Expect a successful launch of the VINK program given their previous successes elsewhere. Medium to long-term, Vietnam’s industrial development levels will likely continue to grow slowly but steadily. This growth will put Vietnam on track to be among the top three ASEAN countries in advanced manufacturing, which will constitute 40% of Vietnam’s GDP by 2030 and attract international investors.
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