Korea and Brazil Launch Official SME Cooperation Channel to Open South American Market for Korean Startups

South Korea’s Ministry of SMEs and Startups (MSS) and Brazil’s Ministry of Entrepreneurship, Microenterprise and Small Business have agreed to establish an official bilateral cooperation channel for SMEs, ventures, and startups, turning a February 2026 memorandum of understanding into concrete policy action.

Vice Minister Roh Yong-Seok and Tiago Nicácio Pereira, Executive Secretary to Brazil’s Minister of Entrepreneurship, Microenterprise and Small Business, held a bilateral meeting in São Paulo on July 28 (local time) to lay out the framework for the new channel. The meeting followed the MOU on SME and Startup Cooperation signed in February during Brazilian President Lula’s state visit to Korea.

Both sides agreed to step up exchange on startup policy and help companies from each country establish themselves in the other’s market. The two governments also decided to work together to improve the competitiveness of their SMEs and startups, with a focus on connecting Korean startups’ technology strengths to Brazil’s startup ecosystem—the largest in South America.

Vice Minister Roh introduced MSS’s flagship Startup for All initiative and the new Startup Venture Campus (SVC Seoul), inviting Brazil to collaborate more closely on startup policy. He also presented COMEUP 2026, Korea’s global startup festival, and explored ways to integrate Korean startups into Brazil’s ecosystem.

The Brazilian delegation showed strong interest in how SVC supports an innovation-focused startup ecosystem and expressed eagerness to adopt Korea’s policy know-how, including the SVC model, for Brazil’s own startup infrastructure.

“This meeting with Brazil’s Ministry of Entrepreneurship, Microenterprise and Small Business, building on the SME MOU we signed in February, will be a turning point in strengthening how our two countries work together to support SMEs and startups,” Vice Minister Roh said. “We will do everything we can to provide practical policy support, so that our SMEs and startups can find new room to grow in Brazil and across South America.”

The new cooperation channel is expected to create a direct bridge for Korean SMEs and startups seeking market entry into Brazil and the broader South American region, while also facilitating Brazilian companies’ entry into Korea’s innovation ecosystem.

Korea has been steadily expanding its SME and startup support infrastructure beyond Asia. In April 2026, the Ministry of SMEs and Startups and the Korea SMEs and Startups Agency (KOSMES) launched the first private-sector-led Global Basecamp in the U.S. Southeast to help Korean SMEs build lasting market presence. The ministry also opened applications in March for its 2026 Corporate Partnership for Overseas Expansion Program, which pairs Korean SMEs with global corporations to accelerate international growth.