KOTRA and Korea Social Enterprise Promotion Agency Sign MOU to Support Globalization of Social Economy Enterprises

On the 3rd, KOTRA signed a business agreement with the Korea Social Enterprise Promotion Agency at its headquarters in Yeomgok-dong, Seoul, to support the globalization of social economy enterprises. Kwon Pyung-oh, President of KOTRA (fifth from the left), and Kim In-seon, President of the Korea Social Enterprise Promotion Agency (sixth from the left), along with other attendees, are posing for a commemorative photo. (Photo by KOTRA)

[Asia Economy Reporter Jihee Kim] KOTRA is supporting the global expansion of social economy enterprises in collaboration with the Korea Social Enterprise Promotion Agency.

On the 4th, KOTRA announced that it signed a Memorandum of Understanding (MOU) on March 3rd at its headquarters in Yeomgok-dong, Seoul, with the Korea Social Enterprise Promotion Agency to support the globalization of social economy enterprises. Through this agreement, the two organizations will cooperate in areas such as ▲discovering and nurturing promising social economy enterprises ▲capacity-building education and consulting for overseas expansion of social economy enterprises ▲export marketing ▲investment attraction support ▲international exchange projects to revitalize the social economy ecosystem. They plan to collaborate to accelerate the overseas expansion and global growth of social economy enterprises.

Additionally, both organizations will promote social economy enterprise development projects to realize social value in the public sector. They will support globalization so that social economy enterprises, which have faced increased difficulties due to the COVID-19 pandemic, can gain competitiveness not only in the domestic market but also overseas. KOTRA plans to actively utilize overseas expansion capacity-building education, customized overseas expansion support packages, export marketing projects, and preferential systems.

Kwon Pyung-oh, President of KOTRA, said, “Last year, we supported 280 social economy enterprises and achieved export results of 6.64 million dollars,” adding, “We will nurture more social economy enterprises going global in cooperation with the Korea Social Enterprise Promotion Agency.”

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