Ministry of SMEs and Startups Expands Mutual Cooperation with Brazil on SMEs, Venture Businesses, and Startups
Establishing an Official Cooperation Channel for SMEs and Venture Businesses
Brazil Shows Interest in Adopting Policy Support Know-how such as SVC
The Ministry of SMEs and Startups will strengthen mutual cooperation with the Brazilian Ministry of SMEs in the fields of small and medium-sized enterprises (SMEs) and startups.
On July 28th (local time), Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups (MSS), announced that he held a bilateral meeting in Sao Paulo, Brazil, with Tiago Nacacio Pereira, Vice Minister of the Brazilian Ministry of SMEs, and other members of the Brazilian delegation to discuss cooperation plans for SMEs, venture businesses, and startups between the two countries.
This meeting was held as a follow-up to the "Memorandum of Understanding on SMEs and Startup Cooperation" signed during Brazilian President Lula's state visit to Korea in February, aiming to specify the implementation measures for the agreement.
Both countries agreed on the need to enhance the competitiveness of SMEs and startups and decided to establish an "official cooperation channel for SMEs and venture businesses."
In addition, they discussed ways to promote policy exchanges in the startup sector so that SMEs and venture businesses from both countries can enter local markets more stably, as well as other practical measures for cooperation.
Vice Minister Noh introduced the Ministry's "Start-up for All Project," the recently opened Startup Venture Campus (SVC Seoul), and the global startup festival "COME UP 2026," proposing policy exchanges in the startup sector.
The two sides also discussed ways for Korean startups and Brazil's startup ecosystem—the largest in Latin America—to interact. The Brazilian delegation expressed its intention to adopt Korean policy support know-how, such as that of the Startup Venture Campus (SVC), in Brazil.
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Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups (MSS), stated, "This bilateral meeting with the Brazilian Ministry of SMEs will serve as an opportunity to solidify cooperation between Korea and Brazil in the field of policies supporting SMEs, venture businesses, and startups, based on the memorandum of understanding signed in February." He added, "We will provide concrete policy support so that our SMEs and startups can secure new engines of growth in Brazil and other South American markets."
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