The Ministry of SMEs and Startups said on the 29th that Vice Minister Noh Yong-seok and Brazil's Vice Minister Tiago Nacacio Pereira of the Ministry of Micro and Small Enterprises met to discuss cooperation plans for small and medium-sized enterprises and startups between the two countries.
The meeting took place on the 28th (local time) in São Paulo, Brazil. It was arranged to flesh out follow-up implementation plans for the memorandum of understanding (MOU) on small businesses and startups signed on the occasion of Brazilian President Lula's state visit to Korea in February this year, and to connect the achievements of Korea-Brazil summit diplomacy to domestic small businesses' entry into the South American market.
The two sides agreed that cooperation should be expanded to strengthen the competitiveness of small businesses and startups. They also decided to establish an "official cooperation channel for SMEs and ventures."
Vice Minister Noh proposed expanding exchanges on startup policy, introducing the "Everyone's Startup Project," the recently opened "Startup Venture Campus (SVC Seoul)," and the global startup festival "COMEUP 2026."
They also exchanged views on ways to link Korean startups with strong technological capabilities to Brazil's startup ecosystem, the largest market in South America, to promote mutual exchange.
The Brazilian delegation showed strong interest in the Startup Venture Campus's approach to supporting the innovative startup ecosystem. They also signaled interest in introducing to Brazil Korea's experience operating startup policies and the technology guarantee support system for innovative small businesses.
Vice Minister Noh said, "This bilateral meeting with Brazil's Ministry of Micro and Small Enterprises will be an opportunity to solidify cooperation on support policies for SMEs, ventures, and startups between the two countries, based on the memorandum of understanding in the SME sector signed in February between Korea and Brazil," adding, "We will spare no policy support so that domestic SMEs and startups can secure new growth engines in the South American market, including Brazil."
The Ministry of SMEs and Startups (MSS) also hosted "K-Beauty GLOW WEEK in Brazil" in São Paulo to support local market entry for domestic cosmetics corporations.
The event was organized as part of a program to support overseas expansion of domestic brands conducted in major cities around the world, starting in Shanghai, China, in January; Hanoi, Vietnam, in April; and Rome, Italy, in June.
Twenty-one domestic beauty corporations took part in the event. At brand-specific exhibition and experience spaces, visitors could directly examine and try the products. Local influencers also promoted participating corporations' products by introducing each product's features and reviews on social media (SNS).
Major buyers with distribution networks across Latin America also visited the venue, including "Natura," Brazil's largest cosmetics manufacturer and distributor; "Raia Drogasil," which operates thousands of stores across Brazil; and "Mercado Libre," South America's largest e-commerce platform. They reviewed the exhibited products and discussed with participating corporations ways to expand local sales of Korean cosmetics by leveraging their own distribution networks.