KOTRA Helps Enhance Small Business Overseas Expansion Capabilities 'UP'

[Asia Economy Reporter Kim Hyewon] KOTRA announced on the 18th that it signed a Memorandum of Understanding (MOU) on the 16th at its headquarters in Yeomgok-dong, Seoul, with the Small Business Hope Foundation to support small business owners' overseas expansion.

Through this agreement, KOTRA and the Small Business Hope Foundation will collaborate to support small business owners' overseas expansion by providing ▲capacity-building education for overseas expansion ▲consulting for overseas expansion and discovering new buyers ▲domestic and international scale-up opportunities for small business owners, enabling excellent small business owners' ideas and products to enter the global market.

First, KOTRA will increase interest in overseas expansion among small business owners struggling due to COVID-19 by offering the 'First Step to Export School' education program. It will also pilot a 'New Buyer Discovery Free Service' using KOTRA's big data platform. Within this year, KOTRA plans to establish a 'Small Business Service Preferential System' to accelerate small business owners' entry into overseas markets by creating an institutional foundation.

Kwon Pyung-oh, President of KOTRA, stated, "To strengthen the self-sustainability of small business owners, opportunities must be provided to scale up from the startup stage to global companies," adding, "KOTRA will actively cooperate with the Small Business Hope Foundation to help small business owners grow into a vital pillar of our exports."