DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has recently signed a Memorandum of Understanding (MoU) with the Korea Institute of Startup and Entrepreneurship Development (KISED), embarking on a long-term collaboration aimed at fostering innovation and empowering entrepreneurship.
Industry sources added that with a focus on startup growth and innovation, this latest move also solidifies DMCC’s business network in South Korea, further deepening the flow of trade, investment, and commercial opportunities between both regions. The agreement follows key partnerships announced by DMCC in 2023 with the Korea Blockchain Industry Promotion Association (KBIPA) and Seongnam City.
Ahmad Hamza, Executive Director of Free Zone, signed the agreement on behalf of DMCC, while KISED was represented by Janghoon Lee, Vice President, of KISED. The signing ceremony took place today in the presence of high-level government officials from both the UAE and Korea, including H.E. Abdullah bin Touq Al Marri, Cabinet Member and UAE Minister of Economy, and Daehi Lee, Deputy Minister – Ministry of SMEs and Startups, at Investopia in Abu Dhabi.
Ahmad Hamza, Executive Director – Free Zone, DMCC, stated: “This strategic partnership with KISED is further testament to DMCC’s commitment to driving global innovation and entrepreneurship through international collaboration. By creating a platform for exchanging knowledge and expertise, we are not only building an environment ripe for startup success but also laying the groundwork for sustainable economic growth. Together, we will unlock new commercial opportunities, empowering entrepreneurs to shape the future of business on a global scale.”
Janghoon Lee, Vice President, KISED, stated: “We are delighted to collaborate with DMCC, a leading hub for innovation and entrepreneurship in the Middle East and beyond, in line with our shared dedication to making a meaningful impact on the global startup ecosystem. Leveraging the expertise and resources offered by DMCC, we are poised to elevate our support to startups, providing them with access to a wide range of new markets and opportunities.”
Industry sources added that this strategic agreement displays a wide range of important initiatives for startups, including cross-border development opportunities through mentorship programs and participation in international events, in addition to the exploration of new joint ventures and partnerships. DMCC is also sponsoring a dedicated program for exceptional Korean startups to enter the UAE market, organized by AGCC.
Industry sources further affirmed that this partnership between DMCC and KISED seeks to provide comprehensive support and assistance to startups. Through facilitating the exchange of knowledge, expertise, and resources, both parties aim to achieve business growth while promoting innovation and economic development.
DMCC has continually strived to create an environment that fosters innovation and entrepreneurship, from offering bespoke business packages and tailored support programs to providing access to a wide network and opportunities. Complementing these offerings are specialized hubs like the DMCC Gaming Centre, Crypto Centre, and the upcoming AI Centre, which provides a comprehensive ecosystem for high-growth industries and plays a pivotal role in nurturing startups and facilitating their expansion into international markets.
Also, Read: – Ellington Properties and DMCC performed groundbreaking ceremony in JLT
DMCC appoints Mace Group for launching Uptown Tower
