The Ministry of SMEs and Startups said on the 10th that it signed a memorandum of understanding (MOU) on "cooperation on small and medium-sized enterprises and startups" with Belgium's Ministry of Small Businesses and the Self-Employed.
This agreement is the first case since establishing diplomatic ties in which Korea and Belgium have built a federal-level cooperation framework in the SME sector. It is meaningful in that it expanded the foundation for domestic small and venture corporations to enter the European market.
Belgium is regarded as a major transport and logistics hub in Europe and a country with a startup-friendly environment. In particular, because its domestic market is small, deep-tech startups that target the global market from the early stage are active, drawing attention as a base for domestic corporations to enter Europe.
The memorandum includes cooperation measures such as exchanges on policies supporting SMEs and startups, exchanges of professionals, technology cooperation, and business linkage.
After signing the agreement, No Yong-seok, First Vice Minister of the Ministry of SMEs and Startups (MSS), and Eleonore Simoens, Belgium's Minister of Small Businesses and the Self-Employed, held talks and discussed ways to expand startup cooperation between the two countries. Vice Minister No emphasized the need for cooperation linking Korea's technological capabilities with Belgium's business infrastructure and proposed participation by the Belgian government and startups in the global startup event "COMEUP 2026," to be held in Dec.
They also exchanged views on ways to expand exchanges on startup policy between the two countries by introducing the "Startup for All" project being promoted by the Ministry of SMEs and Startups (MSS) and SVC (Startup Venture Campus) Seoul, a global startup collaboration space.
Vice Minister No said, "Belgium is called the 'heart of the European Union (EU),' and it has world-class research infrastructure and a business-friendly environment," adding, "With this partnership with the Belgian federal government, we will activate a cooperation framework to support domestic small and venture corporations in entering Europe."