According to Yonhap News,

Specialized institutions have joined forces to strengthen the global competitiveness of middle-market enterprises (MMEs) amid increasing uncertainties in the trade environment.

The Korea Trade-Investment Promotion Agency (KOTRA), Korea Trade Insurance Corporation (K-sure), Korea Institute for Advancement of Technology (KIEA), and the Federation of Middle Market Enterprises of Korea (FOMEK) announced that they signed a memorandum of understanding (MOU) o April 9 in Grand Hyatt Hotel in Yongsan-gu, Seoul to enhance the global expansion of mid-sized enterprises.

The four institutions agreed to leverage their core functions in export, overseas investment, finance, risk management, research and development (R&D), and competitiveness enhancement to collaborate more effectively and support mid-sized enterprises in growing into global specialized companies.

Specifically, they will focus on creating a dedicated service platform for middle market enterprises, providing tailored support through collaboration, strengthening networking between companies and institutions, and jointly hosting and promoting key projects.

A support program specifically for middle-market enterprises integrating the unique functions of each institution, will also be developed.

The MOU ceremony was held in conjunction with the 'Young CEO Network' event hosted by the FOMEK. The four institutions introduced their main support programs to more than 50 next-generation leaders of middle-market enterprises and related institution representatives.

KOTRA President Kang Kyung-sung stated, "In the rapidly changing trade environment, the role of middle market enterprises in driving exports is becoming even more critical. We will actively support the strengthening of their global competitiveness by joining forces with the other participating institutions."

dkkim@yna.co.kr

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Source: Yonhap News (April 10, 2025)

** This article was translated from Korean.