Discussion on This Year's Performance Analysis and Future Strategies and Cooperation Plans for Supporting Overseas Expansion
The Ministry of SMEs and Startups announced on the 17th that it held the first 'Ministry of Foreign Affairs-Ministry of SMEs and Startups Policy Council' meeting.
This meeting was arranged as a follow-up measure to the 'Memorandum of Understanding for Supporting the Global Expansion of SMEs and Venture Companies' signed by the Ministry of SMEs and Startups and the Ministry of Foreign Affairs last April. Key officials from both ministries at the director-general level, as well as representatives from the Korea International Cooperation Agency (KOICA), the Small and Medium Business Corporation, and the Korea Institute of Startup & Entrepreneurship Development attended.
The attendees reviewed the major achievements of this year in the global expansion of SMEs and venture companies, accomplished through continuous efforts by related organizations, and shared plans for next year to discuss ways to strengthen support to expand opportunities for Korean SMEs and startups to enter the global market.
The Ministry of Foreign Affairs presented the results of the 'Overseas Diplomatic Missions SME and Venture Company Support Council,' which began operations this year. A total of 46 meetings chaired by heads of diplomatic missions were held at 25 missions in 17 countries worldwide where the council was established. Additionally, 241 cases of local issue support and 401 cases of local information provision in host countries were recorded, demonstrating active contributions to supporting exports and resolving difficulties faced by Korean companies.
For example, according to a case introduced by the Ministry of Foreign Affairs, when Poen, a battery remanufacturing company, faced difficulties securing a local factory site and obtaining permits in Germany, the Consulate General requested cooperation from the Baden-W?rttemberg state government and city government to assist in acquiring factory establishment permits. The Small and Medium Business Corporation provided Poen with administrative support related to visa issuance and corporate establishment, and the Frankfurt Trade Office arranged consultations with local companies capable of cooperating on site leasing. As a result of these support activities, Poen is now able to proceed with the operation of its local factory in the first half of 2025 as planned.
The Ministry of SMEs and Startups introduced the 'Proposal-type Global Expansion Project by Overseas Diplomatic Missions,' scheduled to be newly launched next year, presenting a support project model in which overseas missions are utilized as overseas export support centers and propose support projects considering the local market environment. Through this project, the ministry aims to further strengthen the function of the council and requested active interest and cooperation from overseas diplomatic missions so that domestic SMEs can expand their local market entry.
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