Small and Medium Business Distribution Center Renamed as 'Korea Small and Medium Venture Business Distribution Agency'

The Small and Medium Business Distribution Center announced on the 1st that it will change its institution name to Korea SMEs and Startups Distribution Agency and embark on a new start.

The 'Small and Medium Business Distribution Center' is a public institution under the Ministry of SMEs and Startups, established in 1995. In its early days, it operated a single project for the installation and operation of sales facilities for SME products, but as its functions and roles gradually expanded through comprehensive sales channel support such as ▲strengthening marketing capabilities of SMEs and startups ▲fostering e-commerce small merchants ▲activating public procurement systems, the need for a name change was steadily raised.

Accordingly, on October 8th, an amendment to the Enforcement Decree of the 'Act on the Promotion of Small and Medium Enterprises' was promulgated to change the institution's name, and after approval of the articles of incorporation amendment at the shareholders' meeting, the official name Korea SMEs and Startups Distribution Agency has been used as of November 1st.

The institution's English name has also been changed. Reflecting its role in providing full-cycle support from sales channels to marketing for SMEs and startups, it was named 'KODMA (Korea SMEs & Startups Distribution & Marketing Agency)'.

Lee Tae-sik, CEO of Korea SMEs and Startups Distribution Agency, said, “I hope the name change will raise employees' pride and serve as an opportunity to reestablish the institution's status as a trusted organization by the public,” adding, “We will continue to play a pivotal role as a comprehensive sales channel support institution for SMEs and startups.”