Riyadh: Korean Minister of SMEs and Startups Oh Young-ju commended the strides made by Saudi Arabia’s Biban24 Forum in fostering a thriving startup ecosystem in alignment with Vision 2030. During her participation at the forum, she emphasized that innovation knows no borders and that startups are shaping the global landscape, with a notable surge in tech-based ventures worldwide.
According to Saudi Press Agency, the minister highlighted that 18% of global venture capital investment now focuses on AI, marking a major technological shift, and that European startups are steering change by adopting generative AI technologies. Minister Oh said that Biban has become an important platform that helps establish Saudi Arabia as a startup hub since the launch of Vision 2030, which prioritizes technology and innovation-driven economic growth.
She also underscored the shared commitment between the two countries to empower the youth and drive economic transformation through rapid startup growth. Minister Oh praised Saudi
startups for their significant and growing impact on the national economy.