Ministry of SMEs and Startups Expands Cooperation with Italy on SMEs and Cooperatives

Signing of Korea-Italy Cooperative MOU
Sharing Cooperative Policies and Operational Cases

The Ministry of SMEs and Startups announced on the 12th that it held the "Korea-Italy Cooperative MOU and Seminar" in Rome, Italy.

Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups, is taking a commemorative photo at the "Korea-Italy Cooperative MOU and Seminar" held on the 11th (local time) at the Italy Grand Hotel Plaza in Rome, Italy. From the left, Francesco Napoli, Vice President of CONFAPI, Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups, and Oh Giwoong, Vice President of the Korea Federation of SMEs. Ministry of SMEs and Startups

The event, which took place on the 11th (local time), was organized as a follow-up achievement project following the visit of Italian Prime Minister Giorgia Meloni to Korea in January, in response to the need for cooperation between the two countries’ SMEs and cooperatives.

Italy is recognized as a country with a well-developed ecosystem for SME growth and revitalization of local economies centered on cooperatives. In particular, the Emilia-Romagna region is cited as a leading success story of cooperative-based industrial clusters.

On this day, the Korea Federation of SMEs, the Italian Confederation of Small and Medium Enterprises (CONFAPI), and the National League of Cooperatives and Mutuals (LEGACOOP) each signed a memorandum of understanding (MOU). They agreed to pursue initiatives including: linking business activities between SMEs and cooperatives from both countries, exchanging policies and information related to cooperatives, and sharing market information.

CONFAPI is a major Italian economic association representing small and medium-sized enterprises, established in 1947, and represents 110,000 manufacturing-focused SMEs. LEGACOOP, established in 1886, is a nationwide Italian cooperative alliance with more than 10,000 cooperatives and over 7 million members.

During the seminar, participants discussed the growth models and support systems for SMEs and cooperatives in both countries. The Italian side introduced the “Development of Italian Cooperatives and Consortium Operation Model” and “Internationalization Strategies of Italian SMEs and CONFAPI’s Support System.”

Jo Juhyun, President of the Korea Small Business Institute, gave a presentation on the topic “Korea and Italy: Building an Innovative SME Manufacturing Ecosystem through Cooperation.”

No Yongseok, First Vice Minister of the Ministry of SMEs and Startups, stated, “This event is significant as it marks a new starting point for cooperation where Korean and Italian cooperatives can grow together, going beyond simple exchanges. We will continue to expand support so that SMEs and cooperatives can create new opportunities in the global market.”

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