KUALA LUMPUR: Iskandar Investment Bhd (IIB) has partnered with Singapore's KILSA Global to accelerate South Korean startups and small and medium-sized enterprises (SMEs) into Southeast Asia.
The collaboration aims to position Medini and Iskandar Puteri as hubs for South Korean innovation, attracting global talent and investment while contributing to Johor's economic growth.
In a statement today, IIB noted that KILSA Global is focused on helping businesses enter Southeast Asia and South Korean markets through localised expansion services and regional networks, enabling rapid growth with minimal investment.
IIB president and chief executive officer Datuk Idzham Mohd Hashim said the partnership with KILSA Global will open new opportunities for South Korean startups and SMEs to establish a presence in Southeast Asia and contribute to regional economic growth.
"At IIB, we are committed to facilitating South Korean businesses by providing comprehensive investment support and connecting them with key agencies such as Invest Johor, the Malaysian Investment Development Authority, and the Malaysian Development Economic Corporation to ensure a seamless setup process," he said.
Idzham added that the collaboration will provide South Korean innovators access to mentorship, networking, and talent development opportunities, ensuring they have the resources, infrastructure, and networks needed to succeed.
As a hub for innovation, Medini already hosts strategic initiatives like Tech Medini and GBS Iskandar @ Medini. Several multinational corporations have established their presence there.
With over US$30 billion invested in infrastructure, the city is a thriving centre equipped with world-class facilities, making it an ideal location for businesses to scale in one of the world's fastest-growing regions, IIB said.
KILSA Global managing director Philip Jongseok Park said: "Southeast Asia presents a significant opportunity."
He said South Korea's more than 30,000 SMEs contribute to more than 99 per cent of the country's business landscape and they seek overseas expansion.
"The region's digital economy is projected to reach US$300 billion by 2025," he added.