Jungjinkong, Cooperation with China to Support Small and Medium Venture Businesses

On the 25th, Kim Hak-do, Chairman of the Korea SMEs and Startups Agency, Meets with Xing Haiming, Chinese Ambassador to Korea

On the 25th, at the Embassy of China in Jung-gu, Seoul, Chairman Kim Hak-do (left) and Xing Haiming, the Chinese Ambassador to Korea, are taking a commemorative photo after their meeting.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (hereinafter referred to as SBC) announced that Chairman Kim Hak-do met with Xing Haiming, the Chinese Ambassador to Korea, at the Embassy of China in Jung-gu, Seoul on the 25th, and agreed on cooperation between the two countries to support small and medium-sized ventures and revitalize economic exchanges.

This meeting was arranged to discuss practical cooperation measures between the two countries as the importance of economic cooperation in the small and medium-sized venture sector has increased as a multilateral cooperation partner of the massive economic bloc following the conclusion of the RCEP (Regional Comprehensive Economic Partnership) among 15 countries last year.

China announced a 6% economic growth target for 2021 through the Two Sessions in March and is actively promoting support for economic recovery after COVID-19, including the dual circulation policy and scientific and technological innovation. Chairman Kim Hak-do requested China’s interest and support for mutual win-win cooperation by contributing to the activation of domestic demand, which is the core of China’s dual circulation policy, and for promising Korean small and medium ventures to enter the Chinese market, expressing expectations for the role of the Chinese Embassy in Korea as a Korea-China bridge.

This year, SBC will support the entry of small and medium ventures into the Chinese market through ▲ entry into Hainan duty-free shops ▲ exhibition and sale of excellent products at the Qingdao O2O exhibition and sales center. In addition, SBC plans to newly open a technology exchange center in China, where it currently operates centers in six countries, to induce R&D innovation and performance creation for small and medium enterprises in both countries.

Chairman Kim Hak-do said, "Despite COVID-19, Korea and China established a joint quarantine cooperation system, leaving a good example of international quarantine cooperation," and added, "I hope that through cooperation for exchange and support of small and medium enterprises in both countries, Korea-China mutual development and Asian and global economic growth can be contributed to together."

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