Korea SMEs and Startups Agency and LIG D&A Join Forces to Foster Promising K-Defense SMEs

MOU Signed to Support Global Expansion of K-Defense SMEs and Venture Companies

The Korea SMEs and Startups Agency announced on May 31 that it has signed a memorandum of understanding (MOU) with LIG Defense & Aerospace (LIG D&A) to support the global expansion of promising small and medium-sized enterprises (SMEs) and venture companies in the K-Defense sector.

This agreement was established as global interest in K-Defense has been rising, particularly following the spotlight on the Korean air defense system “Cheongung-II” amid recent conflicts in the Middle East, including the United Arab Emirates (UAE). Both parties plan to build a sustainable defense industry ecosystem based on collaboration between large companies and SMEs.

On the 29th, Sukkyoon Kang, Chairman of the Small and Medium Business Corporation, and Ikhyun Shin, CEO of LIG D&A, are taking a commemorative photo after signing a business agreement. Small and Medium Business Corporation

This initiative is based on the understanding that, in order to enhance the global competitiveness of K-Defense, a defense technology ecosystem must be established that ensures both the technological competitiveness and supply chain stability of SMEs and venture companies supplying key components and software.

The main points of the agreement include: ▲ jointly identifying and fostering promising K-Defense SMEs and venture companies for overseas expansion; ▲ supporting overseas entry and early market settlement through the global network of the Korea SMEs and Startups Agency; and ▲ providing localization development and production consulting for SME products by LIG D&A.

In particular, the Korea SMEs and Startups Agency’s Global Business Center (GBC) in Dubai will leverage its extensive Middle East network, centered on the UAE, to help SMEs overcome challenges such as lack of information and difficulties in securing local partners, thereby supporting their stable entry into the local market.

Sukkyoon Kang, Chairman of the Korea SMEs and Startups Agency, stated, “We are now able to support SMEs and venture companies that will lead the future of K-Defense together with LIG D&A, whose competitiveness is expanding in the global market.” He added, “Based on the infrastructure and policy support capabilities of the Korea SMEs and Startups Agency, we will actively support the overseas expansion of defense companies and the strengthening of their supply chain competitiveness.”

This content was produced with the assistance of AI translation services.