The Ministry of SMEs and Startups (Minister Oh Young-joo, hereinafter referred to as MSS) and the Korea SMEs and Startups Agency (Chairman Kang Seok-jin, hereinafter referred to as KSMBA) announced on the 3rd that they are recruiting companies to move into the Global Business Center (hereinafter referred to as GBC) to expand overseas expansion of small and medium-sized enterprises.
GBC is an organization operated by the Ministry of SMEs and Startups in major trading hubs around the world to actively support overseas expansion of small and medium-sized and venture companies. It is currently established in 21 regions in 14 countries around the world.
Companies that move into GBC can receive local office space and various business services. First, companies that move in are provided with independent offices and shared conference rooms, and non-resident companies can also use shared offices at any time. In addition, for companies to settle in smoothly, we operate consulting services on legal, accounting, and labor issues, as well as specialized programs (such as bio and digital healthcare support) that take into account market characteristics of the countries where GBC is located.
In particular, this year, we have significantly improved the GBC operation direction and support system in consideration of changes in the domestic and international environment, such as the strengthening of protectionist trade policies.
First, in line with the increasing demand for overseas expansion by small and medium-sized enterprises and venture companies, we plan to form an overseas mentoring group in each country where GBC is located, including local experts and senior companies that have advanced into the market, to support online seminars on overseas expansion and follow-up consultations for domestic companies that are new to exporting.
Second, in order to strengthen support for companies affected by the US tariff measures, companies affected by tariffs will be given the highest level of 10 points in the move-in evaluation. In cases where they have to wait for move-in due to a lack of space, they will be given preferential treatment to use shared offices for up to 4 months. In addition, companies affected by tariffs will be able to use local consulting services such as legal, accounting, and labor just like companies that have moved in during the move-in waiting period.
If you wish to move into GBC to explore overseas markets, you can apply at any time through the ‘Support Projects – Global Business Center – Online Application’ section of the current Small and Medium Business Administration website . Shared offices can be used through the online reservation system .
Lee Soon-bae, Director of Global Growth Policy, said, “Recently, there has been an increase in the number of small and medium-sized enterprises and venture companies that are trying to directly advance overseas to find customers and expand their businesses,” and added, “We will actively support the overseas expansion of small and medium-sized enterprises and venture companies by upgrading GBC operation programs such as specialized programs for each GBC and operation of overseas mentoring groups.”
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