UL said it has signed a memorandum of understanding (MoU) with the South Korean government formalizing “a collaboration to support market access readiness for promising Korean startups in new industries, including new mobility.”
The testing giant said the MoU, signed with South Korea’s Ministry of Small and Medium-sized Enterprises and Startups, will include support for Korean tech startups using UL Solutions safety science expertise and a global certification support center in Korea.
“This MoU is significant as it is the first case where UL Solutions, recognized as a leading quality and safety certification company, provides technical support to foreign startups,” said Young Lee, Korea’s Minister of SMEs and Startups. “Through cooperation between the two organizations, MSS will spare no effort to support promising companies to overcome challenges such as changes in the global economic landscape and to blossom and thrive, and the Ministry will continue to develop cooperative models to solidify the innovative foundation for future generations.”
According to UL, South Korea plans immediately to carry out working-level discussions with UL Solutions to finalize plans to utilize UL Solutions' safety science expertise in the US. The MoU was signed during South Korean President Yoon’s state visit to the US.
“UL Solutions is honored to be a part of this MoU allowing us to apply our safety, data and technology expertise that will help empower businesses in Korea to innovate with confidence today and fuel future success,” said Weifang Zhou, UL Solutions’ executive vice president and president of testing, inspection and certification.