South Korea has officially launched a comprehensive pan-government initiative to support the global expansion of promising domestic startups, with nine ministries joining forces to provide coordinated overseas market entry assistance.

The Ministry of SMEs and Startups (MSS), led by Minister OH Youngju, announced the Pan-Government Startup Global Expansion Launching Ceremony held at the Four Seasons Hotel in Seoul on Tuesday. The event, conducted under the slogan “Start Up, Together,” brought together over 200 participants from government, industry, and startup sectors.

The ceremony featured high-level representation from nine government ministries and agencies, including MSS Vice Minister KIM Sung-sup, National Assembly member KIM Dong-ah from the Trade, Industry, Energy, SMEs, and Startups Committee, and officials from participating ministries spanning education, foreign affairs, environment, agriculture, trade, transportation, aerospace, and intellectual property. The participating ministries include the Ministry of SMEs and Startups, Ministry of Education, Ministry of Foreign Affairs, Ministry of Environment, Ministry of Agriculture, Food and Rural Affairs, Ministry of Trade, Industry and Energy, Ministry of Land, Infrastructure and Transport, Korea AeroSpace Administration, and Korean Intellectual Property Office.

During the ceremony, MSS highlighted the achievements of existing startup support initiatives while introducing expanded inter-ministerial programs. Key initiatives include the Global Accelerating Support Program and the Challenge! K-Startup program, both designed to provide domestic and international acceleration support along with overseas expansion funding. DeepSales, led by CEO KIM Jin-sung, served as a featured case study. The company, which participated in the 2024 Global Accelerating Support Program, shared its successful overseas expansion experiences and achievements during the event.

A notable highlight of the ceremony was a symbolic performance where representatives from each ministry placed flags representing their respective programs into a box bearing the event slogan. This gesture emphasized the unified commitment of all nine ministries toward supporting startups’ transition from domestic to global markets. The networking session that followed facilitated direct dialogue between ministry officials, implementing agencies, and participating companies, focusing on business development, global expansion strategies, and future commitments.

This year’s initiative aims to support 148 promising startups through tailored programs that leverage each ministry’s specialized expertise and global networks within their respective industrial sectors. The comprehensive approach ensures startups receive sector-specific guidance and resources for international market entry. MSS has announced particular emphasis on strengthening support for the U.S. market, recognizing America’s robust AI infrastructure and global leadership position. This strategic focus aims to enhance the growth potential and international competitiveness of South Korean AI startups.

“The nine ministries will come together as one to open a new chapter of collaboration in supporting startups,” stated MSS Vice Minister KIM Sung-sup. “We will unite our capabilities and organically link our resources to become a strong and reliable partner for startups.”

The Global Accelerating Support Program represents South Korea’s commitment to nurturing its startup ecosystem and helping domestic companies achieve international success. By coordinating resources across multiple government agencies, the initiative aims to provide comprehensive support that addresses the diverse challenges startups face when expanding internationally. This pan-government approach signals South Korea’s recognition of startups as crucial drivers of economic growth and innovation, positioning the country to compete more effectively in the global startup landscape.