The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its ex-post facto approval on the Memorandum of Understanding (MoU) between India and Republic of Korea on Startup Cooperation.  The MoU was signed in February, 2019.

The MoU would facilitate and promote bilateral cooperation between the startups of both countries, subject to their national laws and regulations and any applicable international treaties, conventions and agreements to which the two countries are party.

MoU on Startup Cooperation facilitates bilateral startup collaboration, subject to national laws and applicable international agreements. Approval was granted for a Memorandum of Understanding establishing Startup Cooperation between India and the Republic of Korea, providing ex post facto sanction for the MoU and enabling facilitation and promotion of bilateral cooperation among startups, expressly conditioned on compliance with each party's national laws and regulations and subject to any applicable international treaties, conventions, or agreements.