FOR IMMEDIATE RELEASE                       
March 14, 2025                                   
                                               
MSS Hosts the ‘Deep Tech Value-Up Joint Meetup Day’

SEJONG – The Ministry of SMEs and Startups (MSS) hosted the ‘Deep Tech Value-Up Joint Meetup Day’ on March 12, with over 130 participants, including representatives from seven large corporations, startups, and support organizations.

The ‘Deep Tech Value-Up Program’ is an initiative that fosters open innovation between top-tier startups nurtured by MSS, and global major corporations.

The program was first announced in August 2024 during a meeting with executives from large corporations such as Samsung Electronics and Hyundai Motor Company. Following this, Hyundai Motor Company launched pilot projects with startups and selected six collaboration companies during Hyundai Motor’s ZER01NE Day in October.

The six companies selected by Hyundai Motor Company are: 1) Deep In Sight, 2) Inchems, 3) Rowain, 4) Tesollo, 5) Plaif, and 6) Floatic. Notably, Deep In Sight not only participated in the value-up program but also secured a large-scale investment of approximately KRW 10 billion in 2024. The company also received an Innovation Award at CES 2025 for its technological excellence, following its participation in the event with Hyundai.

In 2025, the Deep Tech Value-Up Program will see significant participation from various large companies, including Hyundai Motor Company, Samsung Electronics, SK hynix, LG Science Park, POSCO Holdings, HD Hyundai Heavy Industries, and KT. Based on a demand survey conducted in January, 26 startups recommended by regional Centers for Creative Economy and Innovation (CCEI) participated in this joint meetup.

MSS plans to support around 50 startups in 2025 through the Deep Tech Value-Up Program. Based on their demands, large corporations will select collaboration targets from the startups identified during the joint meetup through evaluations. Startups that confirm collaboration with large companies can receive up to KRW 200 million in funding for technology optimization and global expansion.

Meanwhile, the ‘Deep Tech Value-Up Joint Meetup Day’ garnered attention with the participation of executives from seven large companies, including Vice President Kim Dong-wook of Hyundai Motor Company and Vice President Jeon Pil-gyu of Samsung Electronics, rather than just working-level personnel.

During the joint meetup, Vice President Kim Dong-wook of Hyundai Motor Company stated, “Together with the startups selected during last year’s pilot project, our internal team is conducting a Proof of Concept (PoC) technology validation project to confirm the on-site applicability of their technology.” He added, “This year, we plan to participate in the value-up program at a group level to foster collaborations with promising startups.”

The event also featured a memorandum of understanding (MOU) on technology protection between the CCEIs nationwide and the Korea Foundation for Cooperation of Large & Small Business, Rural Affairs (KOFCA). This agreement was established to minimize concerns over technology leakage for startups, as various open innovation initiatives are being implemented through the CCEIs. The CCEIs and KOFCA agreed to provide legal advice for various contracts, including Non-Disclosure Agreements (NDAs), between large corporations and startups.

Minister Oh Youngju remarked, “Countries worldwide are increasingly competing in the super gap field of deep tech through expanded infrastructure and bold investments.” She emphasized that, for South Korean large corporations to thrive in this intense competition, it is crucial to find new growth engines through open innovation with technology-driven startups. She also pledged active support to ensure the government serves as a strong backbone for private sector-led initiatives.