Former Israeli Prime Minister Ehud Olmert has expressed high expectations for Korea and Israel to cooperate to bolster startups.

Meeting the press at Shilla Hotel in Seoul Sunday, Olmert said, “Korea and Israel have many similarities. We can cooperate to create an ecosystem for startups.” He arrived in Seoul to make a keynote speech in the “Fuze 2018,” the main event of the Asia Blockchain & Fintech (ABF) in Seoul that opens Tuesday.

“I appreciate Seoul City and Seoul Economic Daily for giving me good opportunities. This is my fifth visit to Korea and whenever I come here, I have expectations,” Olmert said, adding that “Korea is always full of vitality and we will increase investment for startups here through Yozma Fund.”

The former Israeli prime minister will meet with Korean businesspeople and Israeli entrepreneurs in Korea in the “Israel Day” event taking place at Shilla Hotel at 3 p.m. Monday.

“Israel Day” is a forum scheduled for businesses from Korea and Israel to have exchanges. About 300 businesspeople from the two countries will take part in the event. It will serve as an occasion for their bilateral collaboration to extend to startups and blockchain from that between Korea’s big companies and Israel’s venture firms. Since quitting as prime minister, Olmert has been taking the lead in finding and nurturing startups by heading various investment funds. To help spur the development of blockchain technology, Yozma Group established a company in Singapore additionally and created a 70 billion won fund this year.

“We have plans to let newly discovered blockchain companies in Korea team up with Israeli firms armed with blockchain technology and pave the way for them to make their way around the world,” Yozma Group Korea CEO Lee Won-jae said.

Both Korea and Israel boast technology and manpower commonly. Prof. Yoon Jong-lok of Gachon University, who had served as vice minister of science and technology, said, “It’s impressive that Israel got the third largest number of companies listed on Nasdaq after the U.S. and China although it struggles with national security and poor resources.”
/Heungrok Kim Reporter rok@

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