Busan (VNA) – Vietnamese Prime Minister NguyenXuan Phuc along with President of the Republic of Korea (RoK) Moon Jae-in andleaders of ASEAN member states attended the ASEAN-RoK Startup Summit in theKorean city of Busan on November 26.

Speaking at the event, leaders of ASEAN member statesaffirmed that start-up and innovation are very important to developmentpolicies of countries at present, including ASEAN nations and the RoK.

Each country designs policies that are the most favourablefor start-ups, considering it an important driving force of growth amid thefourth industrial revolution, they said.

President Moon Jae-in said ASEAN is a dynamic region with 60percent of population aged below 35, making it a key region during the fourthindustrial revolution.

He added that the ASEAN and the RoK’s coordination topromote start-ups and innovation will contribute to peace and prosperity in theregion.

According to the President, similarities in growth of theASEAN and the RoK have prompted the country to pursue the New Southern Policy.

The RoK wants ASEAN countries to set up a start-upecological system that will group all systems pursued by each member of thebloc, he said.

As ASEAN Chair 2019, Thai Prime Minister Prayut Chan-o-chasaid the ASEAN has stepped up cooperation in start-ups, innovation and linkagebetween start-ups via forums towards the goal of sustainable development.

Participants shared the view that the ASEAN and the RoK needto continue attaching importance to start-up collaboration to accelerate dynamic,inclusive and sustainable growth, in line with the Joint Vision Statement forPeace, Prosperity and Partnership as well as the 2021-2024 action plan betweenthe ASEAN and the RoK./.