Jungjingong Establishes Local Partnerships to Support SMEs' Entry into the New Southern Market

Business Agreement with Vietnam SME Support Center and National Broadcaster VTC on the 21st
Technology Exchange MOU with Thailand National Science and Technology Development Agency (NSTDA) on the 24th

On the afternoon of the 24th in Bangkok, Thailand, at the business agreement ceremony between the Korea SMEs and Startups Agency (KOSME) and the National Science and Technology Development Agency (NSTDA) of Thailand, Kim Hak-do, Chairman of KOSME (right), and Titapa Sumthinun, Vice President of NSTDA, are taking a commemorative photo.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 27th that it has established cooperative relationships with local specialized institutions in Vietnam and Thailand to lay the groundwork for domestic small and medium-sized enterprises (SMEs) to enter the New Southern Market.

On the 21st, Chairman Kim Hak-do signed a business agreement in Hanoi, Vietnam, with the Vietnam Small and Medium Enterprise Development Center (SMEDEC1) and the state broadcaster VTC, agreeing to actively collaborate to support domestic SMEs' entry into the Vietnamese personal mobility market. Vietnam ranks fourth globally in motorcycle ownership and is currently promoting restrictions on internal combustion engine motorcycles in line with recent eco-friendly policies. Therefore, there is high potential for local market entry based on the advanced technology of domestic electric vehicle parts and materials companies.

SBC plans to exchange standardization information related to Vietnamese standard technology, product specifications, measurement, and quality with SMEDEC1, and cooperate with VTC to support the promotion and marketing of domestic SMEs using local broadcasting channels. SMEDEC1 is a small and medium enterprise support center under the Vietnamese Ministry of Science and Technology. It supports technology standardization, quality management consulting, and verification and certification reviews for all products produced or distributed in Vietnam. VTC was the first Vietnamese broadcaster to establish a Korean Content Business Division and airs the 'Best in Korea' program, which introduces Korean culture, tourism, Korean language education, K-pop, and other Hallyu content.

On the 24th, Chairman Kim also signed a business agreement with the National Science and Technology Development Agency (NSTDA) of Thailand at Thailand Science Park in Pathum Thani Province to activate technology exchange. NSTDA is a government agency under the Ministry of Higher Education, Science, Research and Innovation of Thailand, operating five science and technology research institutes and two technology management support centers, responsible for science and technology development, innovation, and fostering SMEs and startups.

Through this business agreement, SBC and NSTDA will work together to promote ▲technology business matching ▲simplification of science and technology certification support procedures in Thailand, and expand exchanges between domestic and Thai companies. On the same day, Chairman Kim met with Wirapong Malai, Director-General of the Office of Small and Medium Enterprises Promotion (OSMEP) of Thailand, to discuss ways to activate technology exchange between the two countries centered on the Thailand Technology Exchange Center. Established in 2019, the Thailand Technology Exchange Center serves as a hub for technology exchange between SMEs of both countries.

Chairman Kim Hak-do said, "We will establish a working-level consultative body between both sides to follow up on the agreement. In June, we plan to hold a technology exchange consultation meeting with Thailand and select 15 companies wishing to supply parts and materials and transfer technology to the local personal mobility market in Vietnam to support business matching and contract signing between the two countries." He added, "We hope that the cooperative relationships established with specialized institutions in Thailand and Vietnam this time will serve as a stepping stone for domestic companies with excellent technological capabilities to successfully enter the local markets."

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