South Korea’s Minister of SMEs and Startups Lee Young met with Bernard Arnault, chairman of French luxury goods conglomerate LVMH Group, to exchange opinions on possible collaboration between Korean startups and LVMH brands, the ministry said Friday.

The minister was visiting Paris to attend the Viva Technology 2023, one of the largest startup and tech events held in Paris from Wednesday through Saturday this week.

During the event, she met with several executives from French companies to discuss collaborations in open innovation, drive growth and global competitiveness of Korean startups, and pave the way for future advancements in both countries’ technological landscapes.

Her meeting with the LVMH chief was made at the K-startup exhibition booth where a total of 45 Korean startups participate to showcase their latest technologies and meet with European investors.

The minister also visited the Paris headquarters of 3D software company Dassault Systemes and spoke with CEO Bernard Charles regarding the establishment of the world’s first Biotech Innovation Center in Korea, in recognition of the country’s potential as a hub for biotechnology advancement.

With François Jacq, CEO of French industrial gas company Air Liquide, she discussed broadening exchanges between Korean and French innovation companies and promoting startups.

Furthermore, the Ministry of SMEs and Startups signed an agreement with JCDecaux, a global company specializing in outdoor advertising, to leverage global expertise in advertising and media to further support and promote Korean startups.