Ministry of SMEs and Startups, Republic of Korea

[Latest News] - South Korean government announced the Economic Policy Directions for the Second Half of 2024 on July 3. The comprehensive plan for micro-businesses and the self-employed was also discussed. ➡ https://lnkd.in/gyiDecya - More struggling micro-enterprises will be eligible to receive an extension on their repayment deadline for policy funds. Their repayment period will also be extended to up to 5 years. - The government also aims to alleviate the burden of delivery platforms commissions and the criteria for eligible micro businesses who will get financial support for electricity bills will be expanded. - If micro-enterprises grow to become small enterprises, the government will provide policy funds of up to KRW 700 million. -The New Start Fund will be increased to KRW 40 trillion, financial support will be provided for costs incurred for business closure, and reemployment training will be enhanced.

[Latest News] - #MSS signed two MOUs with the #Vietnamese government during the Vietnamese Prime Minister's visit to South Korea. ⏩ https://lnkd.in/gCcwhT5q - The MOU on cooperation in the areas of Small and Medium Enterprises (#SMEs) and #Startups signed with the Ministry of Planning and Investment will establish a Committee on SMEs and Startups. - The Memorandum of Understanding (MOU) on Cooperation for the Development and Exchange of Startup Ecosystems signed with the Ministry of Science and Technology contains matters that facilitate closer collaboration to strengthen startups' capabilities in both countries and increase the exchange of human capital.

[Latest News] - #MSS held the kick-off meeting of a consultative group to facilitate the global expansion of small and medium-sized enterprises (#SMEs) on June 27. ➡ https://lnkd.in/gFX5CVTr - #MSS has announced the operational plan for a consultative group to support the #internationalization of #SMEs and #startups. The group will focus on identifying and resolving issues faced by domestic and foreign SMEs and startups, as well as providing information to support SMEs' internationalization efforts.  - #MSS has prioritized the promotion of #KBeauty as the initial focus for the consultative group. MSS's plan involves collaborating with relevant ministries to develop plans for the internationalization of SMEs and startups in the Korean beauty industry."

[Latest News] - #MSS held a launch ceremony for the "#Busan Future Growth #VCfunds," which aim to invest intensively in companies in the non-capital region. ➡ https://lnkd.in/g8632DYN - #MSS plans to raise the "Busan Future Growth VC funds," totaling KRW 250 billion, through investment projects for the master funds in the future. - In congratulatory remarks, Vice Minister OH Keewoong stated, "The launch of the Busan Future Growth VC funds will provide significant hope and opportunities for regional startups and will mark an important turning point for regional VC investments in our country as they move towards a new beginning." 

[Latest News] -#MSS held a meeting on June 21 with #Ansys, a leading global company in the engineering simulation field, to support aerospace startups. ➡ https://lnkd.in/gkkjZn25 - Based on their operational achievements so far, #MSS and #AnsysKorea have expanded the scope of the #ASKprogram. The program now supports 25 companies, with 20 in the original fields and 5 in aerospace. - The program "ASK" is derived from the initials of Ansys and Startup Korea. The name also reflects MSS' commitment to actively respond to what startups "ask" for their growth.

[Latest News] - On June 19, #MSS signed an MOU with twelve institutions, including banks and public institutions, to utilize #KTOP to boost the private-led technology innovation ecosystem. - MSS unveiled #KTOP, the first domestic technology-rating open platform. ➡ https://lnkd.in/gJxK64id - K-TOP offers graded and quantified technology evaluation information for each company through three AI-based core contents of the Korea Technology Finance Corporation.

[Latest News] - #MSS and the #FKI Center for Large and Small Business Cooperation (#FKILSC) held a '#mentoring for #startups' global market expansion' on June 19. 📢 https://lnkd.in/gpkyAj68 - #Startups in #emergingindustries received mentoring on entering overseas markets and developing marketing strategies from former executives of large corporations.

[Latest News] -#MSS held a meeting on June 19 in Seoul to discuss collaboration results between #SouthKorea and the #UAE in #SMEs and #startups. - The meeting was attended by South Korean SMEs and startups that have made successful entries into the UAE market and achieved tangible results. Also in attendance were the support agencies of both countries that provide assistance to South Korean SMEs for entering the UAE market, and investors. ➡ https://lnkd.in/gB_JkrWv - During the meeting, MSS found out the challenges South Korean small and medium-sized enterprises (SMEs) face in the UAE market and to gather their suggestions. 

[Latest News] - It has been six years since the launch of #MSS's flagship public-private collaboration startup support initiative, the 'Collaboration Program with Global Corporations.' In 2019, #MSS partnered with #GooglePlay to introduce the '#Changgu' program. ➡ https://lnkd.in/dRCZDAuF - On June 18, Minister #OhYoungju attended the '2024 #Changgu Alumni Day' hosted by #GooglePlay. At the event, she congratulated the selected companies of the Changgu program and encouraged all participants and officials involved.

[Latest News] -#MSS had a meeting with #SMEs that have excellent technology trade experience utilizing #SmartTechBridge, an AI technology trading platform, on June 14. ➡ https://lnkd.in/gjQDvUVD -#SmartTechBridge provides access to public technology information as well as information on technology demand. The platform includes various functions essential for technology trade and commercialization. For more information on #SmartTechBirdge ➡ https://tb.kibo.or.kr