The Ministry of SMEs and Startups held the 7th Small Business Growth Relay Forum on the 8th at the Seoul Center for Creative Economy and Innovation, under the theme "Beyond Local, Global." This event was the seventh in the 2nd season of the Small Business Growth Relay Forum, which began in November, following the 1st season of the Small Business Recovery and Stability Forum, which ran from July to October of last year.
The Ministry of SMEs and Startups invited local entrepreneurs and investment experts to share policy directions for fostering local startups that grow based on their region and advance into the global market, and to foster these businesses as a new growth engine for Korea.
In his first presentation, Crypton CEO Yang Kyung-jun addressed the global expansion of local startups and the role of investors, sharing examples of companies that started locally and grew into global enterprises. He explained that the growth of local startups can have positive ripple effects across the region and the nation, through the influx of related populations and the revitalization of the region.
The presentations, which followed with successful global expansion stories, featured local startups from diverse regions, including Seosan, Jeju, and Yeongdeok, sharing their experiences building brands and expanding into overseas markets based on local resources and unique stories. Kirin Company, a company specializing in seaweed, 1950 Co., Ltd., which exports household goods utilizing Jeju specialties, and Chobless, which solidifies and exports fermented vinegar, shared examples of how they transformed local resources into high-value-added products and gave back to their communities.
The open discussion shared the challenges and overcoming them during the overseas expansion process, and continued with policy proposals and field opinions for sustainable growth as a global company, including AI utilization methods, product and service innovation, and overseas market development.
Lee Byung-kwon, Second Vice Minister of SMEs and Startups, explained that with the spread of K-culture, local companies are increasingly pursuing export opportunities, leading to increased exports centered on consumer goods. He also announced that he would continue to expand relevant policies to help local youth and small business owners start locally and grow into global, competitive companies.
To revitalize exports by small and medium-sized businesses, the Ministry of SMEs and Startups plans to launch a global small and medium-sized business development project this year for the first time, supporting the development of export-oriented products and the development of overseas markets.
- See more related articles
You must be logged in to post a comment.