South Korea’s First Vice Minister for SMEs and Startups No Yong-seok met Saudi
Communications and Information Technology Minister Al‑Swaha in Seoul on the 16th
to discuss SME, venture and startup cooperation in AI and digital innovation.
They reviewed Korea’s policy Fund-of-Funds experience and discussed a joint fund
being prepared by Korea Venture Investment Corp (KVIC) and Riyadh Valley Company
(RVC) to invest in AI, semiconductors and other deep‑tech SMEs and startups;
Al‑Swaha said both sides aim to establish the fund within the year.
