Russian startups in the cutting-edge technology sector have begun technology exchanges with their South Korean counterparts.

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’Kwak Jae-won, president of GSTEP delivers opening speech


The Gyeonggi Provincial Government, Gyeonggi Institute of Science & Technology Promotion (GSTEP) and the Skolkovo Foundation (a Russian NGO that nurtures startups and venture capital firms) have jointly held the Korea-Russia Science and Technology Forum at Ramada Plaza Suwon on November 19.

Attended by approximately 70 people, including Senior Vice President Vasily Belov of the Skolkovo Foundation, representatives from 13 Russian tech startups and Korean companies and other relevant officials from both countries, the forum was held to spur on Korea-Russia technology exchanges and help form Korea-Russian business networks for mutual cooperation.

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The Skolkovo Foundation has been running high-tech clusters, such as Skolkovo Technopark and the Skolkovo Innovation Center, Russian equivalents of the US’s Silicon Valley.

Skolkovo Technopark, which currently houses about 1,000 companies, research institutes and colleges, was established in 2010 to help commercialize technologies in the aerospace, medical technology, energy, IT and nuclear power sectors and modernize the Russian economy based on state-of-the-art technologies.

The Skolkovo Foundation, nuclear technologies, next-generation manufacturing clusters and European business platforms were introduced at the forum. And business meetings between Korean and Russian businesses took place for networking. The forum also featured various programs designed to offer technical support to Korean SMEs, such as Skolkovo Startup Technology Pitching.