Ministry of SMEs and Startups Supports Startup Global Expansion with Korea Economic Association

Mentoring Day for Overseas Expansion
Targeting Startups in New Industry Sectors

The Ministry of SMEs and Startups announced on the 19th that it held the 'Startup Overseas Expansion Mentoring Day' together with the Korea Economic Association Small Business Cooperation Center to support the strengthening of our startup companies' global expansion capabilities. This event was conducted as part of the 'Startup Overseas Expansion Mentoring Program,' a pilot project promoted this year by the Ministry of SMEs and Startups and the Korea Economic Association Small Business Cooperation Center.

The Startup Overseas Expansion Mentoring Program supports startups in new industries preparing for global expansion by utilizing experts who are former executives such as heads of overseas subsidiaries of large corporations. This year, it is being conducted for about 20 startups in new industries, and participating companies can receive mentoring from former large corporation executives on local market entry and marketing strategies.

In the future, networking with large and medium-sized enterprises will also be promoted to increase the possibility of joint overseas expansion with large and medium-sized enterprises for mentoring excellence companies.

Im Jeong-wook, Director of the Startup Venture Innovation Office at the Ministry of SMEs and Startups, said, “Global market entry is now essential for startups in new industries, and we will continue to support the strengthening of startups' global capabilities as one team with the private sector.”

Choo Kwang-ho, Director of the Korea Economic Association Small Business Cooperation Center, said, “The Korea Economic Association Management Advisory Group, composed of former heads and executives of large corporations' overseas branches, will pass on large corporations' experience and know-how regarding exports and local expansion,” adding, “We plan to continuously support companies so that Korean startups can compete in the global market.”

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