Korea Federation of SMEs Appoints Overseas Private Ambassadors to Support SME Global Expansion

[Asia Economy Reporter Kwak Minjae] The Korea Federation of Small and Medium Business (KSMB) announced on the 7th that it has appointed overseas private ambassadors who serve as private advisors for small and medium enterprises (SMEs) and cooperatives aspiring to expand overseas.

The appointment ceremony was attended by 18 people, including KSMB Chairman Kim Gi-moon and the overseas private ambassadors. Reappointments were made for 28 existing overseas private ambassadors, and 10 new ambassadors were newly appointed to begin their activities.

Overseas private ambassadors serve as unpaid honorary positions for two years from the date of appointment. The KSMB chairman appoints ambassadors for each country after reviewing their major activities and relevant experience in the respective countries.

Through continuous overseas expansion consultations, advisory meetings, and publication of case studies on overseas expansion, the ambassadors provide SMEs wishing to expand abroad with local information such as laws, regulations, and trends, as well as consulting tailored to the characteristics of individual companies, including corporation establishment and business know-how, supporting stable overseas expansion.

Choo Moon-gap, Head of the Economic Policy Headquarters at KSMB, said, “The advantage of overseas private ambassadors is that they can provide practical help such as necessary advice and network building for individual SMEs based on their rich overseas expansion experience and vivid local information.” He added, “We will strive further to establish the overseas private ambassador system as a successful win-win model at the private sector level.”

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