Kim Ki-moon (fourth from left), chairman of the Korea Federation of SMEs (KBIZ), and Hiroshi Mori (third from right), chairman of the National Federation of Small Business Associations in Japan, pose for a photo after signing a cooperation agreement in Tokyo on July 18, 2024. Courtesy of KBIZSEOUL, July 18 (AJU PRESS) - The Korea Federation of SMEs (KBIZ) signed a memorandum of understanding on Thursday with the National Federation of Small Business Associations in Japan to boost cooperation between small and medium-sized enterprises (SMEs) in the two countries.
Under the agreement signed in Tokyo, the two organizations will cooperate in expanding personnel and technology exchanges between SME organizations. The two entities will also facilitate SME exchanges to enhance supply chain development, and share policies and information to tackle labor shortages and management challenges faced by small firms.
Established in 1956, the National Federation of Small Business Associations represents more than 2.2 million Japanese SMEs. KBIZ was founded in 1962 to advocate for the rights and improve the economic status of some 7.7 million Korean SMEs.
"As the global trade environment is rapidly changing, including the reorganization of supply chains, there is a need for a platform to exchange the strengths of Korean ICT convergence technology and Japanese materials, parts and equipment, and to discuss policy issues," KBIZ Chairman Kim Ki-moon said in a press release. He aims to establish a model that allows SMEs from each country to visit one another through annual forums.
"I look forward to the two leading SME organizations of Korea and Japan joining forces to maintain a mutually beneficial and practical cooperative relationship," said Hiroshi Mori, the Japanese organization's chairman.
reporter
Kim Joo-heon
jhkim123@ajunews.com
