ASEAN and the Republic of Korea has a potential to work together and nurture great ideas from creative minds to build an ASEAN-Republic of Korea startup economic community as a driving force in the global economy. A cooperative startup cluster should also be established oriented towards ASEAN and the Republic of Korea' by focusing on three key strategies including; education and exchange, policy and regulatory improvements, and investment and mutual growth. Yang Berhormat Dato Seri Setia Doctor Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Second Minister of Finance and Economy emphasized the matter while officiating the first ASEAN-Republic of Korea Startup Festival, held virtually.

The festival included various panel discussions, among others, opportunities for collaborations between ASEAN and Korea startups; as well as views from ASEAN Member states on the effects of COVID-19 and the challenges going into the new normal. Organised by Darussalam Enterprise, DARe, the festival was participated by over 300 participants which among others promoted collaboration and exchange of information among startup ecosystems within ASEAN-Republic of Korea. The festival is organised as part of Brunei's ASEAN Chairmanship and falls under the ongoing ASEAN-Republic of Korea Startups Partnership between Republic of Korea's Ministry of SMEs and Startups; and the ASEAN Coordinating Committee on Micro, Small and Medium Enterprises.

Source: Radio Television Brunei