The Vice Minister of Technology and Communications of Laos will officially visit South Korea on July 22 as part of the Lao government’s strategy to expand its startup ecosystem and accelerate digital economic transformation. The visit is expected to highlight South Korea’s leadership in fintech and blockchain industries and foster practical cooperation between the two nations.
The itinerary includes a visit to Seoul Fintech Lab, a flagship startup incubation center supported by the Seoul Metropolitan Government, where the delegation will engage with resident companies to gain firsthand insight into Korea’s private-sector-driven innovation ecosystem. Of particular interest will be the delegation’s engagement with Seoullabs, a Web3 solutions company that has maintained a longstanding partnership with the Lao government.
In 2024, Seoullabs signed a 15-year memorandum of agreement (MOA) with the Lao government to develop a blockchain-based electronic document approval system. Building on this relationship, Seoullabs plans to present new initiatives during this visit to support Laos’s digital economy vision. These proposals include:
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The establishment of a stablecoin issuance platform based on the Lao kip (LAK),
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Expansion of an integrated “SuperWallet” service for use across Southeast Asia, and
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Support for Laos in hosting a global blockchain conference, positioning the country as a hub for regional digital innovation.
Seoullabs is also developing infrastructure for a Korean-won-based stablecoin and plans to localize its stablecoin technology to align with the Lao financial system. Blockchain-powered stablecoins, with their transparency and security, are expected to play a pivotal role in enhancing financial inclusion and bridging gaps in existing electronic payment infrastructures, particularly in emerging markets.
In addition, Seoullabs intends to help Laos emulate the success of Korea Blockchain Week (KBW)—now one of Asia’s most prominent global blockchain events—by assisting in the organization and hosting of a blockchain-centric international conference in Laos. The initiative is aimed at boosting Laos’s position as a Southeast Asian digital hub and enhancing its visibility as a center for technological diplomacy.
To ensure the stable execution of these projects, Seoullabs has also applied to participate in KOICA’s Official Development Assistance (ODA) Creative Technology Solutions (CTS) program, further underscoring the significance of this collaboration from a global development perspective.
A representative from Seoul Fintech Lab stated, “The Vice Minister’s visit is a testament to the global recognition of Korea’s fintech and blockchain technology and its startup ecosystem model. This event is expected to serve as a new platform for public-private diplomacy, strengthening ties between Korea and Laos.”
Source: InsideVina
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