South Korea’s Ministry of SMEs and Startups (MSS) is now accepting applications for its 2026 Corporate Partnership for Overseas Expansion Program — an initiative that gives small and medium-sized enterprises a shortcut into global markets by teaming them up with large corporations that already have the international footprint to make it happen.

The idea is straightforward. Many Korean SMEs have genuinely competitive technologies and products, but breaking into overseas markets on their own is a different challenge entirely — one that requires distribution networks, local market knowledge, and operational infrastructure that most smaller firms simply don’t have. Rather than building all of that from scratch, participating SMEs plug into the existing global supply chains, platforms, and customer networks of their corporate partners.

The Korea Foundation for Cooperation of Large & Small Business, Rural Affairs (KOFCA), which runs the program, wrapped up a competitive selection process earlier this year and landed on 25 partnership projects. SMEs can now apply to join those projects in the first recruitment round of 2026. MSS is putting approximately $11.35 million (KRW 16.9 billion) behind the program this year, with the goal of backing around 50 collaborative projects in total. A second round of project selection is set for May 2026.

This year’s program comes with a few notable upgrades. The biggest new addition is multi-corporate partnership projects — a first for the program. Instead of a single lead company working alongside SMEs, multiple corporations can now band together as a consortium, with each partner contributing its strengths at different stages of the market entry process. Think retailers, digital platforms, and broadcasters joining forces: a content company and a distribution network, for example, could jointly help Korean creative firms find their footing with overseas audiences.

The funding ceiling has also gotten a significant lift. Projects requiring long-term investment — building overseas production bases, or rerouting supply chains through third-country operations — can now receive up to $134,300 (KRW 200 million) per SME, which is four times what the program previously allowed. Total project budgets can run up to $1.34 million (KRW 2 billion) across three years. The program has also expanded its scope to include “P-turn” strategies, where companies relocate production to third countries to sharpen their global edge.

Sector focus is shifting, too. The program is ramping up projects in high-potential areas like K-beauty and artificial intelligence, pairing the global operational know-how of large companies with the innovative edge of smaller firms. Depending on the project, that collaboration might take the shape of joint marketing campaigns, cross-border platform integrations, or inbound promotions targeting international buyers.

The model has already shown results. In beauty, Olive Young has worked with emerging brands to get them onto overseas retail shelves. In tech, MegazoneCloud has teamed up with AI solution developers to help bring advanced digital services to international customers.

“Over time, this program has become one of Korea’s most effective models of collaboration between large companies and SMEs,” said Soon-Bae Lee, Director General for Global Growth Policy at MSS. “By combining the global reach of leading corporations with the innovation of smaller firms, we aim to help Korean SMEs continue building momentum in international markets.”

SMEs looking to get involved can browse participating companies’ calls for applications on Win-Win Nuri, the online platform run by KOFCA. New opportunities will continue to be posted throughout the year.