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South Korea’s First Vice Minister of SMEs and Startups Noh Yong-seok (left) and Belgian Minister for SMEs and the Self-Employed Éléonore Simonet pose for a commemorative photo after signing a memorandum of understanding on SME and startup cooperation at the minister’s office in Belgium on the 10th (local time).

The government has secured a strategic base for Korean SMEs and venture firms to enter the European market.

On June 10 (local time) in Brussels, Belgium, the Ministry of SMEs and Startups signed a “Memorandum of Understanding on SME and Startup Cooperation” with Belgium’s Ministry of SMEs and the Self‑Employed. This marks the first official intergovernmental cooperation in the SME sector since the establishment of diplomatic relations between the two countries.

Belgium, located at the geographic center of Western Europe and known for its strong startup ecosystem, will now engage with Korea in policy dialogue, professional exchanges, technology cooperation, and business matching under the agreement.

At the signing ceremony, First Vice Minister Noh Yong‑seok held bilateral talks with Belgian Minister Eleonore Simonne, stating: “We will combine Belgium’s excellent research infrastructure, at the heart of the EU, with Korea’s technological strengths.” He also extended an official invitation for Belgium to participate in “COMEUP 2026” this December, pledging to expand startup exchanges significantly.

On the same day, Vice Minister Noh hosted a “Belgium‑based Korean companies roundtable,” listening to challenges faced by Korean firms amid global trade changes such as the Middle East crisis, and exploring countermeasures.

A ministry official emphasized: “Through this partnership, we will actively support Korean SMEs and venture firms to successfully settle and grow dynamically in the European market.”

                                                                                                               Oh Se‑eun