Korea Federation of SMEs, a Catalyst for SME Entry into the Middle East... Accompanying Economic Delegation

Chairman Kim Ki-moon Visits Dubai Chamber of Commerce
Plans to Discuss Bilateral Private Sector Cooperation

The Korea Federation of Small and Medium Business (KSMB) has taken the lead in serving as a catalyst for domestic small and medium-sized enterprises (SMEs) to enter the Middle Eastern market.

President Yoon Suk-yeol, who is on a state visit to Saudi Arabia, is delivering an encouragement speech at the Korea-Saudi Investment Forum held at the Fairmont Hotel in Riyadh on the 22nd (local time).
[Photo by Yonhap News]

According to KSMB on the 23rd, KSMB Chairman Kim Ki-moon accompanied President Yoon Suk-yeol on his Middle East tour. He also attended official events such as the "Korea-Saudi Arabia Business Forum" held on the 22nd (local time).

In addition, Chairman Kim plans to visit the Dubai Chambers, the largest chamber of commerce in the Middle East, to meet with executives including CEO Mohamed Ali Rashid Lootah to discuss private sector cooperation between the two countries.

KSMB signed a Memorandum of Understanding (MOU) with the Dubai Chambers in 2007 for mutual information sharing and business cooperation. Considering the recent conclusion of the Korea-United Arab Emirates (UAE) Free Trade Agreement, the Comprehensive Economic Partnership Agreement (CEPA), which expands exchange possibilities, the two organizations plan to actively increase cooperation through joint seminars and other initiatives.

Kim Cheol-woo, Director of International Trade at KSMB, explained, "Not only will we expand the private sector cooperation network in the Middle East, but as interest in the Middle East has increased due to the new Middle East boom, we plan to actively support SMEs' entry into the Middle Eastern market through joint events with local related organizations and support for exhibitions in the region."

Meanwhile, the SME delegation led by Chairman Kim also accompanied the economic delegation during the UAE tour in January. In June, as a follow-up project after the tour, they held the "Korea Trade Fair" export consultation meeting in Dubai, UAE, supporting the entry of over 50 SMEs into the Middle Eastern market.

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