KOTRA Supports SMEs and Startups with Seoul City... Business Agreement Following Gyeongbuk and Gwangju

by Park Sunmi

Published 18 Apr.2022 11:40(KST)

Updated 18 Apr.2022 14:04(KST)

Yoo Jung-yeol, President of KOTRA (7th from the left), and Oh Se-hoon, Mayor of Seoul (5th from the left), are posing for a commemorative photo after signing the business agreement.

[Asia Economy Reporter Park Sun-mi]KOTRA announced that it signed a 'Memorandum of Understanding (MOU) for Mutual Cooperation Enhancement' with the Seoul Metropolitan Government on the 18th at Seoul City Hall.

Through this MOU, a closer cooperative relationship is expected to be established between the two organizations in export support marketing, overseas expansion of Korean companies, and foreign investment attraction projects. Specifically, the two organizations will promote business exchanges including ▲trade and investment trends and information exchange ▲cooperation for overseas expansion of Seoul's small and medium-sized enterprises (SMEs) and startups ▲cooperation in attracting foreign investment and returning companies ▲mutual staff exchanges and revitalization of the local economy ▲promotion of international and cultural exchanges.

In particular, by utilizing KOTRA's overseas trade office infrastructure, support for the overseas expansion of Seoul's SMEs and startups is expected to be strengthened, and information exchange such as discovering local networks and understanding overseas trends is also expected to be activated.

Yoo Jung-yeol, President of KOTRA, stated, "Through this MOU, we expect to discover competitive domestic SMEs and startups, and KOTRA will actively support the globalization of domestic companies."

Meanwhile, KOTRA plans to continue economic cooperation with local governments. On the 6th of this month, it established a cooperative relationship with Chosun University in Gwangju to expand youth overseas employment, and on the 13th, it will hold a foreign investment attraction regional consultation meeting for six regions including Daegu and the Southeast and Chungcheong areas by the end of this month.