Sarah Tew

More joint products and a continued close relationship with Samsung Electronics are on the cards for Oculus, said Oculus VR co-founder and CEO Brendan Iribe.

"We'll work closely with Samsung to develop more products," Iribe said at South Korea's third annual Startup Nations Summit held in Seoul.

"We successfully launched the Gear VR with Samsung this year and I'm sure we will continue close relation with Samsung, as always," he said. He declined to comment about specifics of upcoming product launches with the South Korean electronics giant.

During his session at the summit, Iribe mentioned the importance of vision to the people who run or work for startups. "You need to be clear about your vision and make brave story-telling. Story needs to be developed continuously," Iribe stressed.

The Startup Nations Summit was attended by over 45 startups, both from South Korea and abroad, all competing to win support from companies such as Huawei, Hyundai Motor Company and Google.

Update: 3:45 p.m. AEST Samsung declined to comment.