The First Exchange Forum for Korean-American Women Entrepreneurs... Jenul "Will Lead Global Change"

Ministry of SMEs Holds Korea-US Women Entrepreneurs Conference
Building Consensus and Strengthening Mutual Cooperation and Exchange
MOU Signed by Three Major Organizations... "Deriving Solutions for Global Issues"

Lee Young, Minister of SMEs and Startups (left), is speaking at the Korea-US Women Entrepreneurs Conference held at New York University, USA, on the 22nd (local time).

[Asia Economy Reporter Kim Bo-kyung] The Korean government made its first attempt to support international solidarity and exchange among women entrepreneurs. A conference was held in New York, USA, where Korean and American women entrepreneurs met to communicate and share experiences. Three Korean-American women entrepreneur organizations signed a business agreement and promised to build a continuous cooperative relationship.

The Ministry of SMEs and Startups held the "Korea-US Women Entrepreneurs Conference" on the 22nd (local time) at the Kimmel Center of New York University in the United States. About 20 domestic women-led companies with high potential for entering the US market, including SMEs and startups, and about 10 US companies participated in this event.

In particular, this is the first time the Korean government has created a platform to build an international cooperation base for women entrepreneurs and expressed its intention to support global expansion.

On this day, the National Association of Women Business Owners (NAWBO), the oldest and largest women entrepreneur organization in the US, signed a business agreement with the Korea Women Entrepreneurs Association and the Korea Women Venture Business Association.

Jen Earle, president of NAWBO, introduced her organization in an interview with Asia Economy, saying, "It was founded in 1975 centered on women in Washington DC."

The organization led the amendment of the law in 1988 that allowed women to independently obtain business loans without a male co-signer. Currently, NAWBO is engaged in various activities such as passing bills for women entrepreneurs, education, and capacity building, according to President Earle.

She has plans to strengthen the position of women entrepreneurs worldwide and solve various global issues through the Federation of Business Women Entrepreneurs (FCEM), beyond Korea and the US.

At a conference held in New York, USA, three organizations representing women entrepreneurs from Korea and the United States signed a business agreement. (From right) Lee Jeong-han, President of the Korea Women Entrepreneurs Association; Jen Eol, President of the National Association of Women Business Owners; Kim Bun-hee, President of the Korea Women Venture Association.

Below is a Q&A with President Jen Earle.

- What kind of organization is NAWBO?

▲ It was founded in 1975 centered on women in Washington DC. In the past, women were not eligible to become members of chambers of commerce or Rotary clubs, so it started as an advocacy group for women's rights. It played a role in showing the US Congress how much women can contribute practically to society.

At that time, the law stipulated that women could not even receive business loans without a male co-signer. We lobbied for the passage of a law called 'HR5050' that allowed women to independently obtain business loans. Since 1988, women have been able to independently receive business loans.

- What activities are you currently engaged in?

▲ We operate about 50 chapters nationwide in the US. We work not only locally but also nationally to ensure various laws for women entrepreneurs are established. In addition, we focus on capacity building and education for women.

- What outcomes do you expect from this agreement?

▲ We plan to cooperate with various countries on many global issues. We are designing roundtables, online events, joint training, and other activities to figure out how we can drive the necessary changes worldwide. Since we have our own online platform, various dialogues are possible, and we hope to create synergy effects through this. Our concrete goal is to derive solutions for various global issues.

- Are you planning to cooperate with women entrepreneurs not only in Korea but also in other countries?

▲ We plan to operate globally. Within FCEM, there are representative organizations from various countries, and NAWBO serves as the US representative within FCEM. We have signed MOUs with Peru and Mexico and plan to continue expanding.

- What message would you like to convey to Korean women entrepreneurs?

▲ I am glad to start dialogue and exchange with Korean women entrepreneurs. I hope that through mutual understanding and cooperation on various issues, good results will be achieved in the future.