Ministry of SMEs and Startups

MSS - ministry of SMEs and Startups

AFFILIATED ORGANIZATIONS

Korea SMEs and Startups Agency (KOSME)

Korea SMEs & Startups Agency (KOSME) is a non-profit, government-funded organization established to implement government policies and programs for the sound growth and development of Korean SMEs. KOSME operates financial and non-financial programs for SMEs. KOSME provides financing for SMEs to expand operations, develop new products and reorganize business structures. With advisory programs, including consulting, training, export marketing and global cooperation programs, KOSME supports SMEs to enhance global competitiveness.

Korea Small Business Institute (KOSBI)

Korea Small Business Institute (KOSBI) is a research institute committed to promoting the sustainable development of SMEs. KOSBI has been established to contribute to setting out national SME policies, promoting growth of SMEs and enhancing global competitiveness of SMEs through conducting comprehensive research on SME-related issues.

Korea Institute of Start-up & Entrepreneurship Development (KISED)

Korea Institute of Start-up & Entrepreneurship Development (KISED) was established to contribute to the national economy and support startup development and promote one-man startup Enterprises. KISED is a specialized organization for registration and management of accelerators. Its mission is to provide startup training; nurture future entrepreneurs; assist with commercialization, statistics, research, policy development, funds, human resources, globalization, and re-startups.

Small Enterprise and Marketing Service (SEMAS)

Small Enterprise and Marketing Service (SEMAS) is a government-affiliated agency established to support micro enterprises, traditional markets, stores, and to revitalize the market economy. SEMAS operates the Market Promotion Fund for Micro Enterprises of two trillion KRW to support micro enterprises and traditional markets. SEMAS currently operates six regional headquarters and 60 centers across the country. To ensure stable business environment for micro enterprises, SEMAS contributes to policy fund for micro enterprises, provides training and consulting for micro enterprises.

Korea Technology and Information Promotion Agency for SMEs (TIPA)

Korea Technology and Information Promotion Agency for SMEs (TIPA) is a specialized organization that works to increase competitiveness of SMEs by helping them achieve technological innovation, efficient management and informatization. TIPA is committed to laying a foundation for technological innovation of SMEs; conducting research on technological innovation policies and developing related long-term plan; assessing demand for technological innovation projects and carrying out related research and analysis; disseminating and evaluating information technology to promote informatization.

Korea Venture Investment Corporation

Korea Venture Investment Corporation (KVIC) is a venture capital specialist managing fund of funds. KVIC supports the growth of SMEs and venture firms by providing a stable capital source to venture capital market. Also, KVIC is committed to promoting globalization of venture ecosystem and help startups go global. KVIC works to create virtuous cycle of startup growth-exit-reinvestment for venture ecosystem by organizing funds based on market demand; promoting participation of institutional investors and pension funds in venture investment funds; and expanding investment startups; boosting M&A market.

Korea Federation of Credit Guarantee Foundations(KOREG)

Korea Federation of Credit Guarantee Foundations(KOREG) is a nonprofit public organization set up to ensure the stability and economic growth of the region with credit guarantee assistance as prescribed by Article 35 of the Regional Credit Guarantee Foundation Act. A core responsibility of KOREG is to support 17 regional Credit Guarantee Foundations(CGFs) through re-guarantee services for the guarantees provided by CGFs on behalf of SMEs to the bank. This assistance enables CGFs to stabilize their reserves and maintain financial strength.

Korea Technology Finance Corporation (KIBO)

Korea Technology Finance Corporation (KIBO) aims to facilitate technology financing to innovative SMEs and contribute to the growth of the national economy. KIBO provides credit guarantee service to collateral-constrained SMEs with competitive technology, assess values of technology, provide direct equity investment for promising tech firms at early stage, and match IP assets of universities and research institutes to SMEs, and exercises the right to indemnity against defaulted borrowers by pursuing legal procedures.

Small Business Distribution Center (SBDC)

Since its foundation in 1995, SBDC has been supporting SMEs to help them find markets and distribution channels through department store projects, home-shopping project, marketing support, and online business support.