The Small and Medium Business Administration announced on September 8 that it is recruiting specialized institutions for the '2027 Overseas Branching Project' to support small and venture businesses in their overseas expansion until the 28th.
The 'Overseas Branching Project' allows capable local private institutions, known as overseas private networks, to act as branches for small and venture businesses that find it difficult to establish their own overseas offices, assisting with export marketing and entry into foreign markets.
Currently, 124 institutions are active in 32 countries worldwide, serving as a foothold for small and medium-sized enterprises to expand internationally.
The agency plans to select 145 institutions across 35 countries through this recruitment.
The recruitment covers a total of 21 areas, including market development and transaction support, marketing, distribution, logistics, local laws and regulations, and growth and innovation support.
Particularly, this recruitment will prioritize institutions with proven performance in promising countries or specialized fields where overseas private networks are lacking.
Institutions wishing to participate can apply on the Overseas Branching Project website starting September 9.
Park Jang-hyuk, the Global Growth Director at the Small and Medium Business Administration, stated, “In the rapidly changing global market, overseas private networks are a key driver for the successful local establishment of our small and venture businesses,” adding, “We expect active participation from institutions with excellent local expertise and infrastructure.”
Meanwhile, the agency is providing various support, including developing an AI algorithm that analyzes promising countries and products for small businesses preparing for export.
* This article has been translated by AI.
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