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S. Korea, Missouri sign MOU on SMEs promotion

2017/09/29 10:15

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SEOUL, Sept. 29 (Yonhap) -- The South Korean government said Friday it has signed a memorandum of understanding (MOU) with the state of Missouri to enhance cooperation between small and medium-sized enterprises (SMEs).

The pact was signed in Seoul between Choi Su-gyu, vice minister of SMEs and Startups, and Missouri Gov. Eric Robert Greitens, the government here said.

The Ministry of SMEs and Startups said the MOU calls for the exchange of information and experience on policies related to SMEs and foreign direct investment, as well as helping smaller businesses and startups better exchange technology and foster business opportunities.

"We've agreed to increase cooperation and the need to create jobs through the promotion of business startups," Choi said. He said both sides understand that small and medium-sized businesses play crucial parts in the economic growth of South Korea and the U.S. state.