“2023 KOSME Corporate Evaluation Model Sharing Program” for Vietnamese Officials

From 7-10 June 2023, in Busan (Korea), Korea SMEs and Startups Agency (KOSME) have organized a training program for Vietnamese officials, attending the program, there were Mrs. Bui Thi Huy Hop, Deputy Director in charge of the Center for Vietnam Science and Technology Internationalization Promotion (VISTIP) of the Ministry of Science and Technology and officials from a number of ministries and locality of Vietnam.

According to KOSME’s representative, since 1979, KOSME has been a stauch partner for SMEs. Through financial programs, KOSME provides finance for SMEs to expand operations, develop new products and convert their business structures. This is the 2nd year, KOSME organizes the “ KOSME Corporate Evaluation Model Sharing Program “, with the desire to continue promoting the good relationship between KOSME and agencies of Vietnamese government, and accompanying Vietnamese partners contributing to the development of SMEs and Startups, as well as economy growth of both Vietnam and Korea.

At the training program’s opening, Mr. Ahn Jeong-Gon, KOSME’s Global Growth Director expressed his expectation that “this training program will help practically in establishing support policies for Vietnamese SMEs, and this is an opportunity to promote exchanges and cooperation among policy makers of the two countries”. He also added “will continue to expand the cooperation network with relevant agencies”.

Mr. Ahn Jeong-Gon, KOSME’s Global Growth Director takes a souvenir photo with the trainees – Photo by VISTIP

Within 03 consecutive days of the training program, trainees were shared by the heads of some departmenst and experts of KOSME with many useful knowledge, tools and information about: Applying techniques/ tools in business feasibility evaluation; Business diagnosis and typical examples; Korean economic history; Entrepreneurship; Overview and achievement of the Young Entrepreneur Academy and major startups support programs, excellent startups have been supported by KOSME …

KOSME’s experts train/ share tools and knowledge at the training program – Photo by VISTIP

Trainees visit the headquarters and some training amedities of KOSME (Busan Gyeongnam Academy, the Korean Entrepreneurship Center), Seungsan Village (the homeland of the founders of Big Korean Corporations) – Photo by VISTIP

In the program, trainees visited the Korea Entrepreneurship Center, Seungsan Village (the homeland of the founders of the Big Korea Corporations), visiting the birth’s place of Mr. Lee Byung-chul (a Korean capitalist, businessman, billionaire, founder and first generation president of SAMSUNG Group). Besides, they also visited the LiveX Company. This is a Startups which purposes to develop and operate the co-shared beauty salon platform (Co-sharing) and is based in Busan of Korea. This enterprise has been established recently in March 2021 and is supported by KOSME since 2021 with the capital of 100 million won for business starting; In 2022 its revenue reached 3,469 billion won, but in 2023 KOSME continued to support 200 million won for business operation. Currently, the company LiveX is operating 10 co-sharing salons in Korea (09 at Busan and Gyongnam; 01 in Seoul) with 100 designers participated in its ecosystem. Taking this opportunity, Mr. Song Jung -woong, founder and CEO of the company LiveX and Ms. Bui Thi Huy Hop – Deputy Director in charge of VISTIP have shared their interests and concerns. Mr. Song Jung -woong, planned to go to Vietnam in August 2023, and will visit VISTIP to learn more about business opportunities and development in Vietnam.

Mr. Song Jung-woong – Founder and CEO of LiveX introduces LiveX and takes souvenir photos with VISTIP leader – Photo by VISTIP

During the training in class as well as visiting the fields and working with Startups, issues of making policies to support SMEs, especially Startups to achieve efficiency, weaknesses and strengths of these types of businesses; Application of artificial intelligence (AI), application of business evaluation systems …. were raising/ questioned by trainees, and the instructors/ experts of KOSME as well as the representative of the company LiveX responded properly.

The trainees recorded the important meaning, the usefulness of the training program and mentioned that they would use those gained useful knowledge, contributing to serving SMEs, Startups in Vietnam. At the same time, they would like to have futher exchanges and learn more from KOSME in consulting policies to support and develop SMEs, Startups in accordance with Vietnam’s conditions and circumstances, as well as expressed their desire to expand the cooperation network for supporting SMEs and Startups of both Vietnam and Korea to develop sustainably.

Source: Center for Vietnam Science and Technology Internationalization Promotion (VISTIP)