Cloto Co., Ltd., a specialized company in entrusting the execution of government-supported projects, announced on the 16th that it has signed a strategic business agreement (MOU) with Scomot Co., Ltd., a company that supports global expansion, to support the overseas expansion of startups and the stabilization of government-supported project operations.
This agreement was established to address the rapidly growing demand for overseas expansion by domestic startups and the increasing trend of foreign companies entering the domestic market. The two companies agreed to establish a cooperative system that simultaneously supports startups' core tasks of entering global markets and ensuring stable administrative execution.
Based on partnerships with global platforms like Stripe and Alibaba, Skomot has been operating a "Go-to-Global" program to support Korean companies' overseas expansion. Skomot supports the entire process, from incorporation and local networking to investor recruitment and market entry strategies, providing practical assistance to Korean startups as they expand overseas.
Cloto handles various administrative and execution tasks arising from government-supported projects. Through its service, "Hello Unicorn," Cloto helps startups prevent failures, minimize execution errors, and optimize research and administration. Recently, it has expanded its support to include addressing administrative risks associated with foreign companies entering the Korean market and the "reverse-flip" process.
Through this agreement, the two companies plan to pursue joint projects in various areas of cooperation, including ▲supporting domestic startups in establishing overseas corporations and entering the market ▲strengthening the efficiency of government support project execution ▲supporting foreign companies in entering the domestic market and providing legal and administrative support ▲two-way expansion strategies including reverse flipping.
“The global expansion of domestic startups and the entry of foreign companies into the Korean market are both increasing simultaneously,” said Jeong Hyeong-jo, CEO of SkoMot. “This collaboration is a viable model that can solve these dual challenges.”
Lee Hyun-seok, CEO of Cloto, stated, “We will provide a systematic foundation for startups to enter the global market while stably operating government-supported projects,” and “We will also provide practical support for foreign companies to settle in Korea through Hello Unicorn.”
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