KOTRA-Sinyongbojeunggum Collaborate to Support Innovative Companies' Overseas Expansion and Investment Attraction

Signing of MOU for Global Expansion and Growth Support

KOTRA and the Korea Credit Guarantee Fund (KODIT) have joined forces to help domestic innovative companies enter the global market.

On the 24th, KOTRA announced that it signed a Memorandum of Understanding (MOU) with KODIT at KOTRA’s headquarters in Seocho-gu, Seoul, to support the global expansion and growth of innovative companies.

This agreement was promoted to assist companies facing difficulties due to lack of funding and networks, amid the increasing number of companies aiming to expand overseas driven by digital transformation and advancements in information and communication technology.

The two organizations agreed on key initiatives including ▲supporting innovative companies’ overseas expansion and investment attraction ▲discovering promising companies for global expansion ▲joint projects to support innovative companies’ overseas market entry.

On the 24th, at the KOTRA headquarters in Seocho-gu, Seoul, Kang Kyung-sung, President of KOTRA (fourth from the left), and Choi Won-mok, Chairman of the Korea Credit Guarantee Fund (fifth from the left), signed a Memorandum of Understanding (MOU) to support the global expansion of domestic innovative companies and took a commemorative photo. Provided by KOTRA

The two institutions plan to jointly discover promising companies and support their overseas market development by leveraging KOTRA’s 129 overseas trade offices and KODIT’s financial support capabilities.

Choi Won-mok, Chairman of KODIT, said, "We will actively nurture innovative companies challenging the global market by linking the strengths of both organizations," adding, "We will continue to make every effort to help companies build global competitiveness and pioneer overseas sales channels."

Kang Kyung-sung, President of KOTRA, stated, "Our innovative companies have recently been recognized globally, such as winning the CES Innovation Award," and added, "We will continue to strengthen cooperation with financial institutions to fully support innovative companies in becoming export companies active in the global market."