Seoul City, Cyber Vally to support AI startups for overseas expansion

Seoul City announced on Tuesday that it will collaborate with Cyber Valley GmbH, Europe's largest artificial intelligence (AI) research consortium, to support the overseas expansion and scale-up of domestic AI startups.

The city signed a trilateral memorandum of understanding (MOU) last Thursday at the headquarters of Cyber Valley, Tuebingen, Germany. 

The organizations plan to cooperate in utilizing their respective investment networks for local investment linkage, providing opportunities for joint AI research projects, and supporting resource and space exchange within their communities.

It plans to offer opportunities to participate in mutual incubation programs and share the latest technologies and trends in the field of AI.

Seoul AI Hub aims to help startups it nurtures to address technical problems using Cyber Valley's research resources and connect with various investment destinations in Europe through local networking.

Write to Hae-Ryon Choi at haeryon@hankyung.com