Support Centers for SMEs, Startups to be Established at Diplomatic Missions

Support centers for small- to medium-sized enterprises(SMEs) and startups seeking to expand into the global market and reinforce their competitiveness will be set up at overseas diplomatic missions.

The ministries of foreign affairs and SMEs and startups signed an agreement on Monday aimed at combining their respective global networks and utilizing policies to facilitate SMEs and startups’ global expansion.

Consultative bodies for such support will operate at diplomatic missions, linked with a support body in the country to seek resolution to difficulties faced by domestic businesses overseas.

The first group of support centers are expected to be set up this month at diplomatic offices in over 20 countries and regions where there is a large number of local SMEs and startups operating.

Diplomatic missions in seven locations plan to support the businesses through their diplomatic networks this year.