SMEs ministry builds Brazil channel to boost K-startup exports

The SMEs ministry said Wednesday it has established a formal cooperation channel with Brazil to accelerate the entry of Korean startups into the South American market. First Vice Minister Noh Yong-seok held bilateral talks with his Brazilian counterpart in Sao Paulo on July 28.

The meeting followed a memorandum of understanding signed in February during Brazilian President Luiz Inacio Lula da Silva's state visit to Seoul, serving as a concrete measure to implement the agreement and convert diplomatic outcomes into actual momentum for SME expansion. Both sides agreed to activate policy exchanges to help small and venture companies from both nations enter each other's markets.

Noh introduced key domestic initiatives including the Everyone's Startup Project, the recently opened Startup Venture Campus in Seoul, and the global startup festival Come Up 2026. He proposed expanding policy dialogue based on these programs to foster deeper ties between the two startup ecosystems.

The Brazilian delegation expressed strong interest in Korea's innovation support models, particularly the operational know-how of the venture campus, and indicated an intention to adopt similar policies regarding technology guarantees and startup support systems.

"This bilateral meeting will serve as an opportunity to solidify cooperative relations between our two countries based on the MOU signed in February," Noh said. "We will spare no effort in providing substantial policy support so that Korean startups can secure new growth engines in the South American market."