Jungjingong Strengthens Cooperation with Kazakhstan Small and Medium Enterprise Development Corporation

Business Agreement for Cooperation in SME and Venture Business Sector Between the Two Countries on the 17th

Chairman Kim Hak-do

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 17th that it signed a business agreement with Kazakhstan's Small Business Development Corporation (DAMU) to cooperate in the field of small and medium-sized ventures between the two countries.

Kazakhstan's trade and investment volume with domestic companies is still not large due to differences in the business environment, but it is evaluated as a region of great strategic importance both geopolitically and in terms of securing emerging markets. This business agreement was promoted as part of strengthening Korea-Kazakhstan economic cooperation in line with the visit schedule of President Tokayev of Kazakhstan to Korea.

Both sides agreed to mutually share the know-how, capabilities, and market information for supporting small and medium-sized ventures held by their institutions, and to strengthen cooperation to support the expansion of online market entry and enhancement of entry capabilities for small and medium-sized ventures in both countries. For example, DAMU provides information for Korean companies to enter the Kazakhstan online market through seminars, and SBC supports product listing and buyer matching by opening a Kazakhstan special pavilion within GoBiz Korea.

Chairman Kim Hak-do said, "SBC is striving to expand support for domestic companies' overseas market entry to help overcome the COVID-19 crisis," adding, "Taking this opportunity to strengthen cooperation with DAMU, we will expand various supports so that domestic companies can pioneer sales channels in the New Northern market."

Meanwhile, SBC and DAMU signed a cooperation agreement in April 2019 and have continued cooperation in the field of technology trade, including online and offline technology exchange consultations and the opening of a technology exchange center. Since 2018, a total of 44 domestic small and medium-sized ventures have conducted consultations for technology exchange with 211 local companies and signed 39 MOUs.

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