Seoul, 8 October 2024
- EU Business Hub to host 10 business missions over four years (2024-2027) in the Republic of Korea,
involving approximately 500 EU SMEs and startups - B2B matchmaking to offer global business opportunities for local businesses and support EU companies in establishing successful business partnerships with Korean companies
- The first business mission takes place 02-06 December, providing various benefits such as strategic coaching, industry and sector briefings, study tours, and customised services for EU companies in the digital solutions field
The EU Business Hub, which supports EU SMEs and startups in establishing successful partnerships with companies in the Republic of Korea, has officially been launched. The Delegation of the European Union to the Republic of Korea held a press conference at the Korea Press Centre on 7th October, where they introduced the main objectives of the EU Business Hub programme in Republic of Korea.
The press conference was attended by key figures, including H.E. María CASTILLO FERNÁNDEZ, EU Ambassador to the Republic of Korea, Minister Counsellor Walter VAN HATTUM, Head of the Trade and Economic Section of EU Delegation to the Republic of Korea, Tanith BELLO, EU Business Hub Programme Officer at the EU Delegation to the Republic of Korea among other prominent guests.
“The EU Business Hub is a programme designed to create a platform that establishes business and collaboration opportunities for EU SMEs and startups with business partners and stakeholders in the Republic of Korea,” said the EU Ambassador. “This will also provide Korean companies with networking opportunities with global partners and serve as a venue to encounter numerous technologies from the EU.”
The EU Business Hub plans to conduct 10 business missions in the Republic of Korea over the next four years. Each business mission will include a range of activities, such as industry and sector briefings, study tours featuring site visits to major local businesses, and B2B matchmaking meetings, exhibition and networking events where local businesses can actively connect. In addition, various benefits will be provided to participating companies, including strategic coaching, logistics and accommodation support, and customised services.
Each business mission will focus on one of three target sectors:
- Digital Solutions
- Healthcare and Medical Equipment
- Green and Low-Carbon Technologies.
The missions will include a business delegation of up to 50 EU SMEs and startups specialised in the selected field. By 2027, this will result in a total of up to 500 EU companies visiting the Republic of Korea.
Participating in the events held as part of the business missions will provide opportunities to network with EU SMEs and startups that meet various criteria. EU SMEs must have at least five years of operational history, while startups must have at least three years. They must be headquartered in the EU and actively engaged in the field relevant to the business matchmaking events. Additionally, they should have a track record of international business cooperation, internationalization strategies for successful partnership with companies in the Korean market, and sufficient revenue and personnel.
The first business matchmaking event of the EU Business Hub, “Digital Solutions Korea 2024,” will take place on 3rd December (Tuesday), 5th December (Thursday), and 6th December (Friday) this year at the Sofitel Ambassador Seoul Hotel in Jamsil. The EU Minister Counsellor stated, “The Republic of Korea has strengths in the digital solutions, healthcare and medical equipment, and green and low-carbon technologies sectors, and as one of the world’s leading ICT and digital powerhouses, significant collaboration with the European Union is expected.” He added, “We hope that EU SMEs and startups will discover new opportunities in the Korean market and that international cooperation will be further strengthened in aspects of the trade and economic relations.”
Overview of the EU Business Hub Programme
The EU Business Hub is an economic cooperation programme funded by the European Union, aimed at supporting business collaboration between Korean and EU companies. From 2024 to 2027, the programme will organise a total of 10 business delegations and business matchmaking events in the fields of digital solutions, healthcare and medical equipment, and green and low-carbon technologies. Each event will feature up to 50 selected EU SMEs and startups with cutting-edge products and technologies. The selected EU companies will explore various business opportunities, such as distribution and sales, industrial and technological cooperation, and joint ventures, through consultations with potential Korean partnersTop of Form. Bottom of Form
Overview of the Delegation of the European Union to the Republic of Korea
The Delegation of the European Union to the Republic of Korea represents the EU and provides information on political, social, economic, foreign relations, and trade developments related to the EU in the country. Following the EU Business Avenues and EU Gateway programmes, which supported over 6,000 EU businesses in building cooperative partnerships across Asia, the Delegation has launched the EU Business Hub in 2024. This new economic cooperation programme will focus on three key industries: digital solutions, healthcare and medical equipment, and green and low-carbon technologies, by sending business delegations of EU SMEs and startups specialised in the selected field to the Republic of Korea.
Further information
- Website and social media: https://korea.eubusinesshub.eu/ko
- Contact: rokcomm@eubusinesshub.eu
Source: Press and information team of the Delegation to the Republic of Korea