Expand to Global Markets through SMEs, Venture Companies, and Private GMDs
- Division
- 국제협력과
- Date
- 2017.05.16
- Writer
- 남효덕
- File
- Headline
- GMD Convention Brings Together 61 GMDs and 300 SMEs
□ SMEs and venture companies with ambitions for the global markets, and private companies specializing in helping these companies came together in a highly successful large-scale event dedicated to them.
ㅇ The Small and Medium Business Administration of Korea (SMBA; Administrator Young-sub Joo) held the “GMD Convention” with the Korea Federation of SMEs and the Small and Medium Business Corporation. The event was attended by some 500 representatives from global market developers (GMDs), SMEs, and venture companies.
ㅇ At this event, 61 GMDs selected among some 150 candidates were awarded “GMD Certificates,” and participated in Matching Consulting Sessions aimed at identifying promising SMEs and venture companies that the GMDs will undertake to help expand overseas.
□ GMD refers to “global market developer,” private companies specializing in helping SMEs and venture companies in their efforts to expand to overseas markets.The GMD project has been one of Administrator Joo’s focal projects since his inauguration in January 2016. A total of 46 GMDs were designated last year, and this year saw the designation of 61 more GMDs.
ㅇ GMDs identifies and matches promising SMEs and venture companies using their experiences and know-how in markets that are not readily accessible to these companies, such as emerging markets in ASEAN, Latin America, the Middle East, and Southwest Asia, the e-commerce market, and the international procurement markets.
□ At the Matching Consulting Session, 61 GMDs sat with representatives from some 300 promising SMEs and venture companies selected by the Korea Federation of SMEs, the Small and Medium Business Corporation, and other institutions, to assess their export competitiveness and potential for successful export operations.
ㅇ Five more consulting sessions will be held in Gyeonggi-do, Incheon, and Gyeongsangnam-do until the end of June to identify additional promising companies.
ㅇ The GMDs and the matched SMEs and venture companies will begin activities for market development and export in 1H 2017. The SMBA plans to provide full support for the GMDs’ efforts using all available policy tools including overseas marketing, financing, and R & D supports.
□ Mr. Byeong-wu Jeon, CEO of Far East Investment, expressed his hope that “the GMD project will match us with promising businesses,” and promised to “commit ourselves to developing overseas markets under the belief that we GMDs are responsible for ensuring Korean SMEs and venture companies successfully expand their operations overseas.
□ Also held during the event was the formation ceremony for the GMD Council, an organization formed by the GMDs themselves. The GMD Council, formed by the selected GMDs in 2016, plans to further the GMD project through cooperation among themselves, and create synergy that will spur the supports for small, medium, and venture exporters.
□ Administrator Joo stressed that “Promoting export operations of SMEs and venture companies and globalizing these companies is one of the most pressing tasks as we strive to create jobs that will boost the national economy.”
ㅇ The minister also added that “The GMD project capitalizes on the expertise and commitment of private businesses, and will greatly contribute to globalizing SMEs and venture companies and creating new jobs.”
ㅇ The Small and Medium Business Administration of Korea (SMBA; Administrator Young-sub Joo) held the “GMD Convention” with the Korea Federation of SMEs and the Small and Medium Business Corporation. The event was attended by some 500 representatives from global market developers (GMDs), SMEs, and venture companies.
ㅇ At this event, 61 GMDs selected among some 150 candidates were awarded “GMD Certificates,” and participated in Matching Consulting Sessions aimed at identifying promising SMEs and venture companies that the GMDs will undertake to help expand overseas.
□ GMD refers to “global market developer,” private companies specializing in helping SMEs and venture companies in their efforts to expand to overseas markets.The GMD project has been one of Administrator Joo’s focal projects since his inauguration in January 2016. A total of 46 GMDs were designated last year, and this year saw the designation of 61 more GMDs.
ㅇ GMDs identifies and matches promising SMEs and venture companies using their experiences and know-how in markets that are not readily accessible to these companies, such as emerging markets in ASEAN, Latin America, the Middle East, and Southwest Asia, the e-commerce market, and the international procurement markets.
□ At the Matching Consulting Session, 61 GMDs sat with representatives from some 300 promising SMEs and venture companies selected by the Korea Federation of SMEs, the Small and Medium Business Corporation, and other institutions, to assess their export competitiveness and potential for successful export operations.
ㅇ Five more consulting sessions will be held in Gyeonggi-do, Incheon, and Gyeongsangnam-do until the end of June to identify additional promising companies.
ㅇ The GMDs and the matched SMEs and venture companies will begin activities for market development and export in 1H 2017. The SMBA plans to provide full support for the GMDs’ efforts using all available policy tools including overseas marketing, financing, and R & D supports.
□ Mr. Byeong-wu Jeon, CEO of Far East Investment, expressed his hope that “the GMD project will match us with promising businesses,” and promised to “commit ourselves to developing overseas markets under the belief that we GMDs are responsible for ensuring Korean SMEs and venture companies successfully expand their operations overseas.
□ Also held during the event was the formation ceremony for the GMD Council, an organization formed by the GMDs themselves. The GMD Council, formed by the selected GMDs in 2016, plans to further the GMD project through cooperation among themselves, and create synergy that will spur the supports for small, medium, and venture exporters.
□ Administrator Joo stressed that “Promoting export operations of SMEs and venture companies and globalizing these companies is one of the most pressing tasks as we strive to create jobs that will boost the national economy.”
ㅇ The minister also added that “The GMD project capitalizes on the expertise and commitment of private businesses, and will greatly contribute to globalizing SMEs and venture companies and creating new jobs.”