Yoon: "During the overseas trip, I will accompany SMEs, ventures, and startups... I will work tirelessly"

Lunch Meeting with SME, Venture, and Startup Entrepreneurs Participating in UAE Visit
President Yoon to Operate One-Stop Export and Order Support Team
Government Proposes Various Support Measures to Achieve UAE Outcomes

President Yoon Suk-yeol stated on the 24th, "Going forward, I will continue to accompany small and medium-sized enterprises (SMEs), venture companies, and startups during overseas visits and do everything possible to help our companies achieve outstanding results in the global market."

On the same day, President Yoon held a luncheon meeting at the Yongsan Presidential Office with over 40 businesspeople from SMEs, venture companies, and startups who participated as part of the economic delegation during his visit to the United Arab Emirates (UAE). He said, "Since SMEs, venture companies, and startups are responsible for about 40% of our exports, we will operate an 'Export and Order Support Team' that provides one-stop support for their on-site issues."

President Yoon also emphasized, "After the visit, the Middle East market is showing a favorable trend, and our companies are achieving various tangible results such as export contracts, local market entry, and investment attraction. The government will mobilize all policy capabilities to support you so that more achievements can be made and fruitful outcomes realized."

Since last month’s visits to the UAE and Switzerland, President Yoon has been reviewing cases of SME achievements in exports and investment attraction and listening to companies' difficulties. He has also conducted follow-up meetings to continuously assess the economic outcomes of the visits and discover investment projects, including dialogues with young science and technology leaders, follow-up meetings on UAE investment attraction, and meetings with businesspeople involved in the Barakah nuclear power plant.

[Image source=Yonhap News]

At the luncheon meeting, President Yoon, businesspeople, government officials, and related agency participants shared cases of SMEs and venture companies that succeeded in signing export contracts, attracting investments, and entering the local market with the UAE as a result of the visit. They also discussed difficulties and suggestions encountered during the UAE market entry process and various policy directions for the globalization of SMEs and venture companies.

President Yoon reiterated that the $30 billion sovereign wealth fund investment was decided because the UAE fully trusts Korea, and that this trust should be reciprocated by discovering various investment projects that benefit both countries.

The government will also introduce various SME support policies to realize the outcomes of the UAE visit. First, a Global Business Center will open in Dubai next month to support smooth financial transactions, promote venture capital (VC) investments, obtain certifications, and find buyers locally.

Additionally, next month, the government plans to strengthen cooperation with ventures and startups by participating in the UAE startup exhibition and discussing venture investment cooperation related to the $30 billion sovereign wealth fund investment plan. It will also support joint entry of large, medium, and small companies in the nuclear power sector and assist SMEs in participating in large project order fairs.

Furthermore, in June this year, the government plans to dispatch a trade delegation composed of domestic SMEs and hold a promotional event (tentatively named K-Business Day) in cooperation with a local UAE media company. It also plans to expand the number of companies participating in exhibitions held locally.

Before the luncheon meeting, President Yoon visited product demonstration booths of six major companies that signed export contracts after the UAE visit. He listened to explanations about the characteristics, operating methods, and growth potential of the exhibited products and engaged in discussions about strategies and success factors for targeting the Middle Eastern market.

The demonstration booths showcased musculoskeletal motion inspection equipment, AI-based chatbot solutions, motion-tracking avatars, portable X-ray devices, supervision cameras, and AI genetic diagnosis solutions.

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