Issue 15: LG Sangsa, a 'Caring Company,' Supports Small and Medium Enterprises' Overseas Expansion

LG Sangsa Supports Export and Overseas Market Entry for SMEs, Ventures, and Startups

Park Young-sun, Minister (center), Kim Young-joo, Chairman of the Korea International Trade Association (left), and Yoon Chun-sung, CEO of LG Sangsa (right), attending the Caring Company business agreement ceremony held at the LG Gwanghwamun Building on the 22nd. Photo by the Ministry of SMEs and Startups

[Asia Economy Reporter Kim Heeyoon] The Ministry of SMEs and Startups announced on the 22nd that LG Sangsa has been selected as the fifteenth ‘Caring Company.’

On the same day, the Ministry of SMEs and Startups signed a business agreement at the LG Gwanghwamun Building in Seoul with LG Sangsa and the Korea International Trade Association to support the overseas expansion of SMEs and startups.

LG Sangsa, selected as a Caring Company, will support market development and overseas expansion for SMEs and startups whose opportunities for overseas expansion have been blocked due to the COVID-19 pandemic.

LG Sangsa and the Trade Association will utilize their overseas networks to support startups’ overseas expansion both online and offline. Additionally, together with IBK Industrial Bank, they will operate the ‘Global K Win-Win Growth Program’ to provide funding to promising startups and SMEs.

Yoon Chunsung, CEO of LG Sangsa, said, “It is meaningful to have the opportunity to contribute to the overseas expansion and growth of SMEs and startups through the rich overseas network, which is a strength unique to a general trading company.”

Park Youngsun, Minister of SMEs and Startups, stated, “This Caring Company agreement is an opportunity to drastically lower the barriers for our SMEs and startups to enter overseas markets. We appreciate LG Sangsa for presenting a win-win model through mutual cooperation between large corporations and SMEs and startups, and the government will actively support this effort.”

This content was produced with the assistance of AI translation services.