Ministry of SMEs and Startups Calls for GBC Tenant Companies... "Supporting Solutions for Overseas Expansion Challenges"

Support Available for Office Spaces and More
Continuous Applications Accepted on Small and Medium Business Corporation Website

The Ministry of SMEs and Startups and the Small and Medium Business Corporation announced on the 26th that they are recruiting resident companies for the Global Business Center (GBC), which supports SMEs in pioneering overseas markets and advancing locally.

Hospitality tech company H2O Hospitality announced on November 21 last year that it established a Saudi Arabia branch at the Riyadh Global Business Center (Riyadh GBC), a support hub for domestic small and venture businesses operated in cooperation between the Ministry of SMEs and Startups and the Saudi Arabian Ministry of Investment. The photo shows the office view of H2O Hospitality's Saudi branch.
[Photo by Yonhap News]

GBC is an institution that provides various specialized services related to overseas expansion such as export and localization for SMEs at major global trade hubs. It operates in 21 locations across 13 countries worldwide. In the second half of this year, a new comprehensive support hub for SMEs is planned to open in Jakarta, Indonesia.

Companies residing in GBC can receive various services including office spaces such as private rooms and shared offices, business programs like buyer matching, customized programs per hub such as permits and certifications, and localization mentoring between graduated and new companies.

Global hospitality tech company ‘H2O Hospitality,’ which operates in the Middle Eastern market, established a local corporation after moving into the Riyadh GBC in Saudi Arabia, which opened in October last year. ‘XBody,’ which exports medical products, participated in a specialized program for ‘bio and eco-friendly product certification and product improvement’ after moving into the Dubai GBC in the United Arab Emirates (UAE), obtained the stringent UAE certification, and signed export contracts worth over one million dollars through a local agent.

Choi Won-young, Director of Global Growth Policy at the Ministry of SMEs and Startups, said, “We will strengthen support so that GBC can serve as a foothold for SMEs’ overseas expansion and help resolve difficulties arising during the process of local settlement abroad.”

Companies wishing to reside in GBC can apply at any time through the Small and Medium Business Corporation website.

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