The Ministry of SMEs and Startups said on the 17th it is recruiting foreign startup corporations to participate in the "2026 global startup commercialization support program."
The Ministry of SMEs and Startups (MSS) is running a program to support innovative foreign entrepreneurs and overseas startups in launching and commercializing in Korea to promote the globalization of Korea's startup ecosystem. For participating corporations' convenience, all procedures—from the call for applications to submission and evaluation—are conducted in English. The program recorded a 13-to-1 competition rate last year.
Selected corporations receive commercialization funds along with programs linked to the Global Startup Center (GSC). The commercialization funds average 50 million won (up to 80 million won). They can be used for startup corporations' commercialization, including product and service advancement, localization of business models, securing intellectual property, and marketing.
Through the GSC, the program also supports foreign startup corporations' settlement and growth in Korea with services such as investment attraction support, collaboration support with large and mid-sized corporations, and provision of office space.
In 2024, platform developer "Polymerize," which entered Korea, participated in the program to attract overseas startup corporations to Korea and went on to employ 11 people.
The Ministry of SMEs and Startups (MSS) expanded the scale and funding levels in step with the increase in cases of foreign startup corporations settling and growing in Korea. The number of supported corporations rose from 10 to 15, and the maximum grant increased from 60 million won to 80 million won.
Details of the program can be found on the Ministry of SMEs and Startups (MSS) or K-Startup websites. Applications can be submitted online on the GSC website from the 18th to the 10th of next month.
Cho Kyung-won, entrepreneurship policy director at the Ministry of SMEs and Startups (MSS), said, "We are expanding support so that foreign entrepreneurs with strong technological prowess and innovativeness can start businesses in Korea," and added, "We hope this program will help foreign startup corporations settle stably in Korea's startup ecosystem and grow."