Ministry of SMEs and Startups Accelerates Support for Startups Entering Japan

Meeting with Japanese Market Entry Companies Held
Legal Issue Support to Begin from July

The Ministry of SMEs and Startups has stepped up to support startups entering the Japanese market.

On the 13th, the Ministry of SMEs and Startups held a meeting to identify the difficulties faced by startups entering Japan and to derive necessary measures for policy support.

This meeting was a follow-up to the meeting with Japanese market entrants held locally in Tokyo on May 11. At the previous meeting, participants emphasized the importance of local networks and requested various opportunities for networking as well as support in resolving various legal issues arising in business processes such as corporate establishment and customs clearance.

In response to these requests from companies, Minister Oh Young-joo of the Ministry of SMEs and Startups held a 'Meeting with Japanese Market Entrants' in Korea about a month later and introduced several policy measures.

At the meeting, six companies residing in the K-Startup Center Tokyo, including Scalar Data and Airs Medical, and four companies entering the Japanese market, such as Spoon Radio and Olive Union, attended and shared the difficulties they faced during overseas expansion. A local law firm attorney and overseas expansion experts also participated to propose solutions and discuss policy support measures together.

Park Ha-min, Chief Operating Officer of MediQuarters, suggested that legal support is needed to closely address personal information issues while operating an e-commerce platform in Japan. In response, Minister Oh said, “Starting in July, we will collaborate with major law firms to support the resolution of legal issues for startups expanding globally.”

Lee Se-young, CEO of Lytton Technology, expressed difficulties in meeting with local large corporations when entering overseas markets and requested various networking opportunities for IR pitching targeting large corporations.

Minister Oh emphasized the importance of local networks, stating, “We will expand local networks through the One-Team consultative body supporting SMEs and startups centered on overseas diplomatic missions and the K-Startup Center,” and added, “The Ministry of SMEs and Startups will always be a reliable pillar throughout the difficult and arduous process of overseas expansion.”

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