KOTRA and Gwangju Metropolitan City Join Forces to Support Local Small and Medium Enterprises

[Asia Economy Reporter Suyeon Woo] KOTRA signed a 'Memorandum of Understanding (MOU) for Mutual Cooperation in Trade and Investment Promotion and Youth Job Creation within the Jurisdiction' with Gwangju Metropolitan City on the 28th.

KOTRA has been cooperating with Gwangju Metropolitan City by promoting various export support marketing projects, and this MOU was signed to establish a closer cooperative relationship between the two organizations.

KOTRA signed a Memorandum of Understanding (MOU) on the 28th with Gwangju Metropolitan City to promote trade and investment within the region and to mutually cooperate on youth job creation. Yoo Jung-yeol, President of KOTRA (right in the photo), and Lee Yong-seop, Mayor of Gwangju Metropolitan City, are taking a commemorative photo after signing the MOU. Photo by KOTRA

Through this MOU, the two organizations will promote business exchanges including ▲trade and investment trends and information exchange ▲cooperation for overseas expansion of small and medium-sized enterprises (SMEs) in Gwangju Metropolitan City ▲attraction of foreign investment and returnee companies ▲support for domestic and international employment and start-ups for youth and job cooperation ▲mutual staff exchanges and regional economic revitalization ▲promotion of international and cultural exchanges.

Approximately 110,000 SMEs are located in Gwangju Metropolitan City, and there are also 51 foreign-invested companies in the region. These companies have faced significant difficulties due to COVID-19 since last year, and the signed MOU is expected to contribute to revitalizing the stagnant regional economy.

Lee Yong-seop, Mayor of Gwangju Metropolitan City, said, "KOTRA has supported our SMEs at the forefront of exports," adding, "I hope this MOU will be a valuable opportunity to open a path of mutual growth."

Yoo Jung-yeol, President of KOTRA, stated, "Through this MOU, the two organizations have established a cooperative system to support SMEs with competitiveness within the jurisdiction," and added, "We will provide support to contribute to regional economic revitalization and youth job creation."

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