The Luxembourg innovation agency and the South Korean foundation will jointly support companies entering the European and Korean markets.
On 22 May 2025, Jongkap Kim, Chief Executive Director of the Global Digital Innovation Network (GDIN), and Mario Grotz, CEO of Luxinnovation, signed a memorandum of understanding (MoU) to formalise their bilateral partnership.
GDIN is a leading scaleup accelerator in Korea. Established as a non-profit foundation under the auspices of the South Korean Ministry of Science and ICT, it offers comprehensive global solutions for Korea’s most promising tech startups. Luxembourg has been on its radar for several years, and in 2022, GDIN signed an MoU with accelerator Tomorrow Street aimed at fostering technology matching and partnerships.
Luxembourg’s vibrant startup ecosystem and strategic position in Europe make it an ideal partner for Korean companies looking to scale globally.
Jongkap Kim, GDIN
The agreement with Luxinnovation, Luxembourg’s national innovation agency, is a logical next step. GDIN supports companies in reaching new markets, and Luxinnovation helps innovative and high value-added businesses from abroad connect with Luxembourg’s ecosystem. According to the MoU, the two organisations will jointly support companies seeking to enter the Korean or European markets by connecting them with local resources and creating opportunities for networking and technology collaboration.
“We believe that collaboration is key to innovation, and this MoU with Luxinnovation marks a meaningful step toward closer ties between Korea and Luxembourg,” says Mr Kim. “Luxembourg’s vibrant startup ecosystem and strategic position in Europe make it an ideal partner for Korean companies looking to scale globally.
We see extensive synergies between the dynamic Korean tech community and Luxembourg’s growing tech ecosystem.
Mario Grotz, Luxinnovation
“After several years of informal collaboration, this is the perfect time to confirm the partnership between GDIN and Luxinnovation,” comments Mr Grotz. “GDIN already has a strong position in Europe, and we see extensive synergies between the dynamic Korean tech community and Luxembourg’s growing tech ecosystem.”
Building a bridge to Europe
The signature of the MoU took place during a GDIN mission bringing seven promising scaleups to Luxembourg. “We have already enjoyed several visits from high-level scaleups brought by GDIN to Luxembourg,” says Jenny Hällen Hedberg, Head of International Relations at Luxinnovation. “Naturally, we are very open to welcoming such companies to Luxembourg to offer them a bridge to the European market.”
Naturally, we are very open to welcoming such companies to Luxembourg to offer them a bridge to the European market.
Jenny Hällen Hedberg, Luxinnovation
Several South Korean companies, notably including Codepresso, SafeAI, Vsion and Data Design Engineering, have incorporated in Luxembourg over the past few years to expand their global footprint in Luxembourg.
