FuturePlay Signs MOU with Saudi Arabia’s Ministry of Investment to Support Korean Startup Expansion
FuturePlay, a South Korea–based venture capital and startup accelerator, announced that it has signed a memorandum of understanding (MOU) with the Saudi Ministry of Investment, marking a strategic collaboration designed to support Korean startups entering the Saudi market and expand joint investment initiatives between the two countries.
The agreement represents the first MOU signed between a Korean venture capital firm and the ministry, positioning it as a potential catalyst for deeper cross-border cooperation within the startup and venture capital ecosystem.
Under the terms of the MOU, both parties will collaborate to support FuturePlay-backed companies and other Korean startups seeking entry into Saudi Arabia. The partnership also includes joint investments across key sectors such as health care, fintech, logistics, artificial intelligence, and advanced manufacturing, as well as joint development of Saudi Stars, a program dedicated to discovering and empowering promising Saudi entrepreneurs.
Established in 2020, the Ministry of Investment plays a central role in advancing Saudi Arabia’s Vision 2030, acting as the kingdom’s gateway for global investment attraction and a strategic oversight body for companies entering the market. FuturePlay emphasized that the collaboration is expected to strengthen linkages between Korean startups and Saudi Arabia’s innovation ecosystem.
FuturePlay CEO Kwon Oh-hyoung highlighted the significance of the partnership, stating:
“This MOU is a major milestone for Korean startups seeking to enter the Middle East and a stepping stone toward establishing a new startup ecosystem in Saudi Arabia. The partnership will significantly strengthen exchange between startups in both countries and expand global collaboration.”
Founded in 2013, FuturePlay is a tech-oriented investment and accelerator firm specializing in technology, lifestyle, entertainment, and platform startups, operating a full-cycle investment system that spans accelerator functions, venture capital, and private equity.
