The Ministry of SMEs and Startups announced that Korea and China have signed a new Memorandum of Understanding (MoU) to deepen bilateral cooperation in the areas of small and medium-sized enterprises (SMEs) and innovation.
 
The MoU was signed on 5 January in Beijing, during a state visit and in the presence of the leaders of both countries, between MSS and China’s Ministry of Industry and Information Technology (MIIT).
 
The agreement marks a significant step forward in Korea-China cooperation in the SME and venture sector. Since the high-level bilateral meeting held in September last year on the margins of the 2025 APEC SME Ministerial Meeting in Jeju – the first such senior-level exchange in seven years – the two ministries have engaged in sustained discussions on expanding practical cooperation. Against this backdrop, both sides agreed that the state visit provided a timely opportunity to elevate collaboration, paving the way for the conclusion of the new MoU.
 
Replacing the previous memorandum between the two ministries, which expired in June 2024, the new agreement substantially broadens the scope of cooperation. While continuing exchanges on SME development policies and expert and people-to-people engagement, the MoU newly extends cooperation to startup development and joint support for SMEs and startups utilizing emerging and advanced technologies.
 
The expanded focus on startups is expected to generate additional momentum for the APEC Startup Alliance – a public-private cooperation platform aimed at strengthening connectivity among startup ecosystems across the APEC region. The Alliance was formally launched following the adoption of the “Jeju Initiative” at the 2025 APEC SME Ministerial Meeting held in Jeju last September.
 
Minister Han Seong-sook described the MoU as “a meaningful turning point in elevating Korea-China cooperation in the SME and startup sector, building on summit-level diplomacy.” She added that “based on a constructive and forward-looking partnership, the Ministry will continue to work closely with China to support the shared growth of SMEs and startups in both countries.”
 
MSS expects the new framework to serve as a practical foundation for sustained cooperation, contributing to deeper innovation linkages and more resilient SME and startup ecosystems in both Korea and China.
 

For more news and updates on Korea’s SME and startup policies, follow the Ministry’s official LinkedIn page: Ministry of SMEs and Startups, Republic of Korea, 대한민국 중소벤처기업부