S.Korea gov’t hosts sales event for domestic, US SMEs

South Korean small- and medium-sized enterprises (SMEs) expanded their exchange and cooperation with US firms during President Yoon Suk yeol's state visit to the US. The Ministry of SMEs and Startups hosted the "Global SMEs Night" event in Washington, D.C, on Tuesday to encourage the Korean SME economic delegation and support exchanges, such as export contracts and memorandums of understanding (MOUs) signings.

At the event, six technology transfer deals and MOUs were signed between Korean SMEs in the fields of bio-healthcare, artificial intelligence (AI) and smart manufacturing, and American counterparts.

D&D Pharmatech, a Korean clinical-stage global biotech company, signed a technology transfer contract for oral diabetes and obesity treatments with MetSera in the US.

MediSapiens signed an MOU with San Diego-based Sharp HealthCare to establish the first joint venture with an American hospital, aiming to pioneer the US gene analysis service market.

Daemo Engineering signed an MOU with Astec for the launch and sales activation of electronic and hydraulic smart breaker products in the North American market, while Korean sleep technology firm Asleep signed an MOU with Stanford University Medical School and the National Sleep Foundation (NSF) for cooperation in the sleep tech field.

"The government will do its best to enable Korean SMEs to operate in the US as the next growth engine," said Lee Young, Minister of SMEs and Startups.

Write to Hyung-Chang Choi at calling@hankyung.com