Ministry of SMEs and Startups

FOR IMMEDIATE RELEASE                       
Nov. 7, 2024                                      
                                                 
Ministry of SMEs and Startups Holds SME and Startup Support Council Meeting in Dubai

SEJONG – Minister OH Youngju of SMEs and Startups (MSS) held a meeting with SME and Startup Support Council in Dubai during her official visit to Dubai. The session, hosted at the Global Business Center (GBC), provided an opportunity for the Minister to engage with Korean companies actively doing business in the region. The meeting focused on gathering feedback from companies and discussing future support initiatives for Korean SMEs and startups entering into the UAE market.

Minister OH visited the Dubai GBC to offer encouragement to companies expanding into the UAE market. She also reviewed the current status of SME expansion efforts and the support systems in place for these businesses. Following the GBC visit, the Minister attended the meeting with the Support Council of Diplomatic Mission Overseas for SMEs and Startups. There, she evaluated the operations of the Council and explored potential support measures to help Korean companies effectively showcase their capabilities in the Dubai market. The meeting also served as a valuable platform for local companies and institutions to share their achievements and insights gained during their time in Dubai, as well as to request continued government support and attention to help strengthen their international presence.

During the meeting, Minister OH emphasized, "The UAE is a key gateway for our SMEs and startups looking to expand into the Middle Eastern market and remains our largest trading partner in the region. The Dubai Support Council for Diplomatic Missions plays a crucial role in assisting local businesses, and we hope it will continue to focus on addressing the challenges they face." She further urged, "I encourage entrepreneurs here to actively engage with the Council whenever they encounter difficulties in their business operations.

Since its first meeting in May, the Consulate General in Dubai has been in regular communication with local companies and institutions, addressing 10 challenges and providing 44 pieces of information. This ongoing support not only helps resolve difficulties faced by businesses operating in Dubai but also aids in facilitating local networking.
The companies attending the meeting expressed their appreciation for the smoother settlement process in Dubai, thanks to dedicated support hubs like the One Team Council of Diplomatic Missions Overseas and the Dubai GBC. They also highlighted the need for further support, including the establishment of collaborative channels with local institutions and improved access to information.

About Dubai Global Business Center (GBC)
The Dubai GBC was established in 2006 to support SMEs entering Dubai, which is one of the major trade hubs in the Middle East. Located within the UAE’s largest free economic zone, it currently houses 18 companies. The center provides support for local market entry, including office space and assistance with product localization, such as certification and product improvement.

About the Support Council of Diplomatic Mission Overseas for SMEs and Startups
Support Council of Diplomatic Mission Overseas for SMEs and Startups operates based on a memorandum of understanding signed between the Ministry of SMEs and Startups and the Ministry of Foreign Affairs in April 2024. It is established at diplomatic missions overseas in 25 regions where Korean companies have a strong presence, supporting the establishment of overseas bases and addressing local challenges for Korean SMEs and venture businesses.