Jungjingong, a Bridge for SME Overseas Expansion... Overseas Branch Project Matching Fair

Sharing Know-How for Overseas Expansion and Supporting Globalization

The Small and Medium Business Corporation (SBC) announced on the 26th that it held a matching consultation meeting for small and medium enterprises (SMEs) participating in the Overseas Branch Establishment Project and executing agencies at the Textile Center in Samseong-dong, Gangnam-gu, Seoul.

The Overseas Branch Establishment Project supports overseas expansion by matching SMEs in the pre-establishment stage of overseas branches with executing agencies called ‘Overseas Private Networks’ that act as local branches. SBC promotes an annual matching fair to improve the matching success rate and project performance.

This matching fair was attended by a total of about 190 people, including 57 Overseas Private Networks from 16 countries and over 100 participating companies. Companies unable to attend the event will participate in an online workshop by August 30.

Jungjingong

At the event, participating companies had the opportunity to discuss their future overseas expansion plans through meetings with private partners. The Overseas Private Networks shared information related to the local business environment and specialized fields with the participating companies. Additionally, there was a session introducing successful cases of overseas market entry through the Overseas Branch Establishment Project in countries such as the United States, the United Kingdom, and Japan.

Since its inception in 2001, the Overseas Branch Establishment Project has supported a total of 6,719 cases until 2022, achieving results such as $8.255 billion in exports, 390 local corporation establishments, and $68 million in investment attraction, serving as a stepping stone for SMEs to expand overseas.

Ahn Jeong-gon, Director of Global Growth at SBC, stated, “With the prolongation of high interest rates and the rise in international oil prices, uncertainties in the global economy are expanding, and the export environment is expected to become more challenging. Starting with this matching fair, we will actively support promising domestic SMEs to closely collaborate with private specialized partners to turn the global crisis into an opportunity.”