The Ministry of SMEs and Startups held a ceremony to sign a Korea-Germany business cooperation agreement.
In the fields of smart manufacturing, materials, parts, equipment, and startups
Establishing a foundation for cooperation between Korean and German SMEs and startups.


The Ministry of SMEs and Startups (MSS) announced on the 16th that it signed a business agreement with three related organizations, including the Korea Technology Information Promotion Agency (KIPA), the Korea Institute of Startups & Entrepreneurship Development (KIED), and the Korea Technology Innovation Association (INOBIZ Association), and the Korea-Germany Chamber of Commerce and Industry (KCCI) to strengthen cooperation in technology and exchange between Korean and German companies.

This signing ceremony was held in conjunction with the annual event (Economy Outlook 2020) hosted by the Korea-Germany Chamber of Commerce and Industry for German businesspeople in Korea. The gist of the business agreement is to expand cooperation between small and medium-sized enterprises and startups in the two countries in three areas: ▲smart manufacturing ▲materials, parts, and equipment ▲startups.

In the field of smart manufacturing, the two countries agreed to jointly promote research and development, distribution, and expansion of smart manufacturing, and to collaborate on supporting business cooperation and information exchange with smart manufacturing specialized organizations in both countries.

In the materials, parts, and equipment sectors, companies from both countries agreed to share technological information, identify technological needs, and jointly carry out collaborative projects based on this information.

In the startup sector, we plan to hold regular events to foster relationships, such as investment briefings, and provide mutual support through information exchanges to help startups from both countries advance into the European and Asian regions, including the other country.

In order to continuously promote and review cooperation items, the related organizations of both countries and the Fraunhofer Institute in Germany that participated in the signing ceremony on this day plan to establish a 'Korea-Germany Business Support Council', which will be responsible for discovering, implementing, and reviewing cooperation items.

Meanwhile, Minister Park Young-sun, who attended the event, introduced the Ministry of SMEs and Startups' key policy directions for 2020 to about 100 German businesspeople in Korea, including ▲transition to a digital economy ▲leap forward to become one of the world's top four venture and startup powerhouses ▲strengthening the competitiveness of the materials, parts, and equipment industries ▲continuing to promote voluntary cooperation between large and small businesses and purchase of products from small business owners ▲innovation of government regulations in line with technological advancements.

Minister Park Young-sun said that as a specific task of cooperation between companies of the two countries, she will hold a 'Korea-Germany Small and Medium Enterprise Roundtable Event' in April where small and medium enterprises in materials, parts, and equipment from Korea and Germany will meet, and that, like the 'German Company Open Innovation Day' held in October last year, large corporations and startups from both countries will participate to create opportunities for collaboration.He proposed to expand the space for seeking .