Yesterday, an official delegation from the Small and Medium Enterprises General Authority (Monsha’at), led by Governor Sami bin Ibrahim Al-Husseini, embarked on a visit to the Republic of Korea to strengthen bilateral partnerships in the development of the small and medium enterprises (SMEs) sector. The delegation's primary focus is to forge international trade relations, enabling emerging companies to expand globally and support entrepreneurship initiatives both locally and globally.

During the visit, Governor Al-Husseini and his delegation were received by Korea's Minister of Small and Medium-Sized Enterprises and Startups in Korea, Lee Young, in Seoul, the capital city. The discussions centered on enhancing cooperation in developing entrepreneurship and SME investments between the two countries.

The delegation also held meetings with various entities within Korea's entrepreneurship ecosystem. They engaged with government officials and leaders of prominent companies in the sector, including the Chairman of the Board of Directors of the Korean Financial Technology Agency and the CEO of Viva Studio. These meetings delved into topics such as financial technology, startup support services, innovation, and technical development.

The agenda included discussions on a business plan between the two countries, focusing on connecting startups by specialization, exchanging experiences among startups, and organizing workshops and events for startups to strengthen the trade relationship and explore more investment opportunities for startups to enhance the entrepreneurial environment and expand it globally.

Highlighting the commitment to global entrepreneurial development, the Korean side expressed its interest in hosting a local competition, where winners would qualify to participate in the Entrepreneurship World Cup (EWC) held in Riyadh during the BIBAN Forum. This event, in partnership with the Misk Foundation and the Global Entrepreneurship Network (GEN), seeks to bolster and empower entrepreneurship on a local and global scale.