Jungjingong Signs Business Agreement with Invest India to Support SMEs

Agreed to Actively Cooperate to Support and Promote Exchange of Small and Medium Venture Enterprises

On the 8th, at the Korea SMEs and Startups Agency - Invest India business agreement ceremony, Chairman Kim Hak-do (left), Sri Priya Ranganathan, Ambassador of India to Korea (right), and Deepak Bagla, CEO of Invest India (left on screen), are posing for a commemorative photo.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 8th that it has signed a memorandum of understanding (MOU) with Invest India, a leading startup support organization in India, to promote support and exchange for small and medium ventures.

This agreement is a follow-up to the economic cooperation discussions held last August between Chairman Kim Hak-do and Sri Priya Ranganathan, the Ambassador of India to Korea. Specifically, both organizations agreed to ▲ jointly host networking events such as startup roadshows and IR pitching ▲ collaborate actively on joint development and sales between promising Korean and Indian companies using the Korea Startup Center operated by SBC in New Delhi ▲ and actively cooperate to revitalize exchanges such as pioneering new markets.

The signing ceremony, held via video conference, was attended by Chairman Kim Hak-do and Ambassador Sri Priya Ranganathan in Seoul, and Deepak Bagla, CEO of Invest India, in New Delhi. Following the agreement, a Korea-India business consultation meeting was held, with 11 domestic companies and 40 Indian companies participating in one-on-one video consultations. The consultation included companies from SBC’s Youth Startup Academy engaged in key growth industries in India such as the Internet of Things (IoT), healthcare, and renewable energy.

Chairman Kim Hak-do stated, "Since 2018, SBC has supported domestic companies’ entry into the Indian market by collaborating with the Indian SME Corporation to open a technology exchange center and establishing the Korea Startup Center in New Delhi in 2019." He added, "Through this agreement, we will firmly build a cooperative foundation between the two countries and activate mutual exchanges to create success stories, and we will do our best to achieve this."