Ministry of SMEs and Startups Promotes Win-Win Cooperation Between Companies and Traditional Markets

‘Our Neighborhood 1 Company-1 Market’ 14 Teams Agreement Ceremony

On the 16th, the Ministry of SMEs and Startups announced that it held a signing ceremony for a win-win cooperation agreement between companies participating in the ‘One Company-One Market Cooperation Project in Our Neighborhood’ and traditional markets at Yeongdong Market in Suwon.

This project, led by the Gyeonggi Regional Small and Medium Venture Business Administration, matches companies and universities interested in win-win cooperation and ESG (Environment, Social, Governance) with traditional markets and shopping districts to share resources and talents mutually. Companies share their resources and talents with traditional markets, while the markets support promotional activities for the growth of the companies, creating a mutually beneficial relationship.

Minister Oh Young-joo of the Ministry of SMEs and Startups is delivering a congratulatory speech at the "One Company-One Market Agreement Ceremony" held on the 16th at Yeongdong Market in Suwon, Gyeonggi Province.

Within two months of the project’s launch, 23 organizations including large and small-medium enterprises, universities, and public institutions expressed their intention to participate. At this first signing ceremony, 14 teams with concrete plans for matching with traditional markets and cooperation details signed agreements. Regarding the cooperation provided by companies, Hi Plaza offers discounts on electronic products such as air conditioners and refrigerators to market merchants, while Chaeu supports the production and installation of large entrance signboards and 3D LED mini signboards. Professors and students from Kyung Hee University’s arts and design department assist in improving the design of market sculptures and other elements.

Traditional markets plan to actively cooperate by providing venues for exhibitions and briefings held by companies and universities, promoting cooperating organizations at major market events, and utilizing various tangible and intangible resources possessed by the markets. Through this project, traditional markets are expected to strengthen their competitiveness by increasing sales and improving market management environments, while cooperating companies anticipate enhanced corporate image and increased sales through win-win cooperation with traditional markets.

Minister Oh Young-joo, who attended the signing ceremony, stated, “We hope companies interested in ESG will actively participate so that this newly promoted win-win cooperation model can spread nationwide. We will actively support efforts such as discovering and promoting excellent cases of the One Company-One Market project in our neighborhoods.”

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