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SOUTH KOREA TO ACT AS A COUNTRY PARTNER OF THE OPEN INNOVATIONS – 2020 FORUM

The Republic of Korea has accepted the invitation to act as a country partner of the IX Open Innovations 2020 International Forum to be held in Skolkovo Innovation Center on October 21-23, 2020. The Forum will become one of the important events dedicated to the 30th anniversary of establishing diplomatic relations between the two countries and the 10th anniversary of the Skolkovo Foundation.

For the past six years, the Republic of Korea has been leading in the Bloomberg Innovation Index 2019 ranking thanks to a considerable concentration of hi-tech public companies, efficient education system in the country and a significant share of R&D expenses in the GDP. South Korea has well-developed electronics, machine building and healthcare industries. The country has also broken new ground in the field of high-speed mobile communication by being first to launch the 5G communication technology into commercial operation.

South Korea is one of Russia's ten partners with total trade volume of USD 25 billion and almost 30% growth in 2018. Innovative partnership is one of the priority areas. The Russian-South Korean Commission on Economic, Scientific and Technical Cooperation is discussing partnership in the field of hi-tech equipment and commercialization of the 5G technology, as well as creation a joint investment fund amounting to USD 1 billion.

In September, Hong Nam-ki, Deputy Prime Minister & Minister of Economy and Finance of the Republic of Korea, visited the Skolkovo Foundation and got to experience the innovation center ecosystem and work of its residents. The parties discussed the creation and location in Skolkovo of R&D centers of South Korean large companies, the possibility of providing the future Russian-South Korean investment fund with specific developments, facilitating small and medium South Korean companies in entering the Russian market.

Arkady Dvorkovich, Chairman of the Skolkovo Foundation: "Development of international relations is one of Skolkovo priority areas of work. The Foundation helps Russian companies enter world markets and is always ready to work with those foreign startups and investors that are interested in cooperating with our country. Skolkovo's cooperation with South Korea is developing fast. This year, representatives of five South Korean companies participated in our softlanding program, two of them are planning to establish a subsidiary in Russia and apply for the Foundation resident status. Yoo Myung-hee, Minister for Trade of the Republic of Korea, and I have recently discussed holding bilateral technology events. I am sure that the next year will become a significant one for our cooperation."

Lee Sok Bae, Ambassador of the Republic of Korea to Russia: "I am delighted and appreciate greatly the South Korea has been chosen as a country partner of the Open Innovations Forum on the 30th anniversary of our bilateral relations. It means that governments of both countries recognize the importance of cooperation in the field of science and technology. Russia can be proud to have the best basic sciences in the world, and South Korea is strong in the field of ICT and applied technologies. Looking back, we see that world history was created by countries that always led the innovation sphere. We are looking forward to a possibility to approach the future together by sharing out experience and establishing mutually supportive cooperation with Russia."

The Open Innovations Forum, held annually in Moscow since 2012 under the aegis of the Government of the Russian Federation, is the largest in Russia and world's major congress and exhibition event demonstrating primary trends and key achievements in innovative areas of the economy.

The VIII Open Innovations International Forum will be held on October 21-23, 2019 in the Skolkovo Innovation Center. Topic of the Forum is "Digital Nation. Leap Forward to Intelligent Economy". The program includes over 150 business sessions with expert spokesmen and spokeswomen from more than 90 countries, including science and education delegates, technology entrepreneurs, representatives of corporations, innovative infrastructure, public authorities and media.

The co-organizers of the Forum are The Ministry of Economic Development of the Russian Federation, The Government of Moscow, Skolkovo Foundation, Russian Venture Company (RVC), The Fund for Infrastructure and Educational Programs, The Foundation for Assistance to Small Innovative Enterprises (FASIE), State Development Corporation VEB.RF.