On the 5th, the Korea SMEs and Startups Agency (KOSME) announced that it had signed a memorandum of understanding for 'activating overseas expansion of small and medium-sized enterprises' with the Korea Railroad Industry Association at the association's office located in Jung-gu, Seoul.
The signing ceremony was attended by KOSME Chairman Kang Seok-jin and Korea Railroad Industry Association Vice Chairman Kim Hee-rak, along with about 10 officials. The two organizations joined forces to promote the overseas market entry of promising domestic small and medium-sized enterprises in the railroad industry and to support the resolution of on-site difficulties.
The two organizations decided to provide global market information together and to support customized overseas expansion by linking businesses. They also plan to jointly promote online and offline overseas expansion programs and to identify and resolve obstacles that arise in the local entry process of small and medium-sized enterprises.
KOSME operates customized projects tailored to the growth stages of small and medium-sized enterprises, such as 'export vouchers' that support overseas marketing based on export scale and stage, 'online export support' that helps develop overseas sales channels online, and 'overseas bases (GBC·KSC)' that provide local entry services including office space.
The association supports overseas market entry and capacity building for small and medium-sized enterprises in the railroad sector through channels such as overseas exhibitions and helps obtain international certification for railroad products. Additionally, it is promoting various projects, including nurturing specialized personnel in the railroad sector.
KOSME Chairman Kang Seok-jin noted, 'This agreement will serve as a strong foundation for cooperation to help domestic small and medium-sized enterprises leap into overseas markets based on the expertise of KOSME and the association,' adding, 'In a situation where there are concerns about deteriorating export conditions due to protectionist trends such as tariffs, we will actively support corporations to feel the results of their overseas expansion.'