Eugene Group financial affiliate EUGENE INVESTMENT & SECURITIES said on the 23rd that it signed a memorandum of understanding (MOU) with the Ministry of Economics to pursue strategic cooperation in large-scale infrastructure and defense industries.
The MOU centers on jointly identifying, evaluating, and developing Latvia's infrastructure and defense industry projects by EUGENE INVESTMENT & SECURITIES and the Latvian government. Going forward, the two parties plan to strengthen cooperation to attract strategic investment, promote technology development, and enhance economic security.
Latvia is one of the three Baltic states in Europe and is fostering industries such as digital and green transition, bio and health, and defense and advanced manufacturing based on its information and communications technology (ICT) capabilities.
Minister Viktors Valainis said, "This MOU marks the full-fledged starting point of cooperation between the two countries, and we expect it will expand the foundation for large-scale investment and commercialization partnerships," adding, "Eugene Group, a trusted partner, will serve as a strong bridge for Korean corporations seeking to enter the European market going forward."
Eugene Group Chairman Yoo Kyung-sun also said, "This agreement is the starting point of long-term cooperation for the two countries' corporations to grow into strong partners for the future, beyond short-term collaboration," adding, "We will build practical cooperation models in various fields, including infrastructure, defense industry, and bio."
During this visit, in addition to signing the MOU, the Eugene Group delegation visited major medical institutions and defense industry corporations in Latvia to discuss cooperation tasks.