Delegation of the European Union to the Republic of Korea

Press Release: Second meeting of the EU-RoK SME Policy Dialogue

Brussels, 25/11/2020 - 03:13, UNIQUE ID: 201125_20
Press releases

Press Release

Second meeting of the EU-RoK SME Policy Dialogue

18 November 2020


  1. The EU and the RoK had the second meeting of the SME Policy Dialogue on 18 November, 2020. The virtual meeting was co-chaired by Director Kristin Schreiber (Director for SME Policy, European Commission, DG GROW[1]) and by Director-General Yong-seok Roh of the Ministry of SMEs and Start-ups, and attended by relevant officials from DG GROW, EU Delegation to the RoK, the Ministry of SMEs and Start-ups, and also by representatives from the Korea Technology Finance Corporation (KOTEC).


  1. The objective of the second EU-RoK SME Policy Dialogue was to better understand and draw possible lessons from the RoK model of innovative and export-led economy relying not only on big conglomerates but also on dynamic start-ups and scale-ups.


  1. The EU and the RoK had a fruitful discussion about each other's SME policy framework and measures, particularly with respect to scale-ups and start-ups, ongoing efforts for the internationalisation of SMEs and instruments to improve access to finance for the most dynamic SMEs.


  1. The EU and the RoK noted that the EU and the RoK have similar challenges to address when it comes to SMEs. Both side’s SME policies (notably the EU SME Strategy and the RoK New Deal) are very much aligned in coping with the twin digital and green transition.


  1. The EU and the RoK agreed to intensify bilateral cooperation in further promoting the internationalisation of SMEs, particularly through the Enterprise Europe Network, which is already represented in Korea. They also agreed to organise a joint workshop on the digital and sustainable transition for SMEs. Further exchanges will take place on access to finance and credit-risk rating system of high potential start-ups and scale-ups.

[1] DG GROW: Directorate General for Internal Market, Industry, Entrepreneurship and SMEs

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