Jungjingong Chairman Meets Maryland Governor in the U.S.... "SME Cooperation"

Signing of Practical Agreement to Support Local Expansion of Korean-US Small and Venture Businesses

On the 19th, Kim Hak-do, Chairman of the Korea SMEs and Startups Agency (right), and Larry Hogan, Governor of Maryland, are posing for 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 that Chairman Kim Hak-do met with Larry Hogan, Governor of Maryland, USA, on the 19th at the Global Startup Academy in Guro, Seoul, to discuss ways to strengthen cooperation between small and medium-sized enterprises (SMEs) and venture companies of the two countries.

Last year, SBC and the State of Maryland signed a memorandum of understanding to "strengthen cooperative relations for promoting economic growth and development between Korea and the United States." Based on this, the two organizations have been promoting various cooperative projects to support the export localization of domestic companies in new industries such as bio-health, ICT, and renewable energy sectors.

Governor Larry Hogan led an economic delegation and visited Korea on the 13th. He introduced the "Global Gateway Exchange" project, which helps promising American companies expand overseas through collaboration with foreign institutions, and visited SBC to explore cooperation plans based on mutual benefits.

On this day, the two organizations signed a working-level agreement to strengthen support for the local market entry of SMEs and venture companies from both countries. Taking this opportunity, they plan to continue collaboration to expand overseas market entry of promising SMEs and venture companies by officially designating SBC’s Washington D.C. Export Incubator and the Maryland Department of Commerce as cooperation channels.

Additionally, SBC will support American companies wishing to enter the Korean market by providing office space, education, mentoring, networking, and information through the Global Startup Academy. Based on this, the two countries will strengthen exchanges and cooperation between SMEs and venture companies and create new business opportunities.

Chairman Kim said, "Since last year, 22 SBC-supported companies in the bio-health and offshore wind renewable energy sectors have entered the U.S. market through Maryland." He added, "Through this working-level agreement, we will further solidify the cooperative relationship between the two countries and support the successful global market entry of our SMEs and venture companies."

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