Ministry of SMEs and Startups Establishes Official Cooperation Channel with Brazil for Small and Venture Businesses

[Financial News] The Ministry of SMEs and Startups said on the 28th local time that No Yongseok, first vice minister, and a Brazilian delegation including Tiago Nacacio Pereira, Brazil’s vice minister, discussed ways to cooperate on small and venture businesses and startups in São Paulo, Brazil.
The meeting was arranged to flesh out follow-up measures to the memorandum of understanding on small and startup businesses signed during Brazilian President Luiz Inácio Lula da Silva’s visit to Korea in February. It also aimed to turn the results of summit diplomacy into momentum for South Korean SMEs entering South America.
The two sides agreed on the need for cooperation to strengthen the competitiveness of SMEs and startups, and decided to establish an official cooperation channel for small and venture businesses.
They also discussed ways to help small and venture businesses from both countries enter local markets by expanding policy exchanges on startups.
Vice Minister No introduced the Muduui Startup Project, Startup Venture Campus (SVC) Seoul, and the startup festival COMEUP 2026, and proposed policy exchanges.
The Brazilian delegation showed interest in SVC’s startup ecosystem support model and expressed willingness to adopt Korea’s policy expertise.
No said, "We will spare no effort to help our SMEs and startups secure new growth engines in Brazil and across the South American market."

[email protected] Kim Hyun-cheol Reporter