Korea SMEs and Startups Agency Signs 'K-Food Mutual Growth Cooperation' Agreement with Harim Industry and Financial Institutions
Establish Five-Party Cooperation Framework... Identify Outstanding Partner Companies and More
The Korea SMEs and Startups Agency said on the 21st that it had signed a business agreement with Harim Industry, Shinhan Bank, Hana Bank, and the Export-Import Bank of Korea to jointly establish the “K-Food Mutual Growth Cooperation Governance.”
The agreement was established in response to growing demand for K-food and expanding exports. It aims to boost the global competitiveness of Jeonbuk’s food industry and strengthen supply chains through coordinated financial and non-financial support for anchor companies and small and medium-sized partner companies.
Key stakeholders pose for a commemorative photo at the K-Food Win-Win Cooperation Governance Memorandum of Understanding signing ceremony on the 21st. Korea SMEs and Startups Agency (KOSME)
View original imageThe Korea SMEs and Startups Agency, anchor company Harim Industry, and the financial institutions will establish a five-party cooperation framework and jointly work to identify outstanding partner companies; provide financial support, including interest subsidies, preferential interest rates, and expanded loan limits; support exports, marketing, and workforce development; and resolve regulatory difficulties with a focus on the needs of companies on the ground.
The Korea SMEs and Startups Agency plans to provide policy financing to small and medium-sized partner companies through direct loans and interest subsidies. It will also support overseas market development by linking companies to export support programs, including Export Vouchers and GobizKorea, and provide tailored workforce development. In addition, it will support improvements to the business environment by identifying regulatory issues and difficulties across the supply chain and putting forward proposals for institutional improvements.
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“We will closely coordinate policy financing with export and workforce support and continue delivering assistance at speed so partner companies can feel the impact on the ground,” said Cho Han-kyo, Director of Human Resources Growth at the Korea SMEs and Startups Agency.
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