South Korea’s commitment to SME growth

A Memorandum of Understanding (MOU) was signed between the Ministry of Small and Medium Enterprises and Entrepreneurship of South Korea (MSS) and the Korean National Police Agency ( KNPA) at the latter’s headquarters.

The main purpose of this agreement is to ensure the security of citizens and promote a prosperous civil economy for small and medium-sized businesses (SMEs), startups and microenterprises. The agreed terms include specific actions related to technological development, access to international markets, the protection of intellectual property of SMEs and the strengthening of security for microenterprises.

Both sides recognized the importance of strengthening the safety net for microbusinesses and laying the foundation for their growth, including measures to protect their intellectual property and ensure their innocence in cases of infringement. Likewise, the relevance of technological innovation and the search for new growth engines in the security sector for SMEs was highlighted. In this sense, both organizations committed to actively collaborate in these areas.

Minister OH Youngju commented: “This MOU aims to establish an efficient investigation system for intellectual property infringement cases, as well as support SMEs engaged in public security and promote their competitiveness in the field of science and technology.”

For his part, KNPA Commissioner General Yoon Hee Keun stated: “We have worked in collaboration with MSS to protect the intellectual property of SMEs, obtaining significant results.” He further added “With this MOU, we will set a leading example of inter-ministerial cooperation by promoting SMEs in the field of public security and developing policies to protect micro-enterprises.”

Within the framework of the signing ceremony of the Memorandum of Understanding, the “2nd Exhibition of Achievements in Research and Development in Scientific Security” was held, organized by KNPA. At this exhibition, 14 public safety advances were presented, including DNA detectors, drone control vehicles and low-risk weapons, developed by KNPA, universities, government-funded research institutes and SMEs.

Scientific advances in security are expected to generate greater interest both nationally and internationally in the field of science and technology applied to security. MSS and KNPA plan to continue strengthening their cooperation in the future to develop additional policies necessary for SMEs and micro-enterprises, with the aim of promoting the security industry and ensuring peace of mind in people’s daily lives.