New Delhi, Apr 22 (KNN) India and South Korea have signed a Memorandum of Understanding (MoU) to strengthen bilateral cooperation in the micro, small and medium enterprises (MSME) sector, marking a key step in expanding economic ties between the two countries.
The agreement was finalised on April 20, 2026, during the official visit of a delegation led by South Korean President Lee Jae Myung.
Framework for structured collaboration
The MoU, signed between India’s Ministry of Micro, Small and Medium Enterprises and South Korea’s Ministry of Small and Medium Enterprises (SMEs) and Startups, establishes a structured framework for sustained engagement on MSME-related issues.
It aims to facilitate continuous dialogue, promote mutual understanding of MSME ecosystems, and enable exploration of collaborative opportunities between stakeholders in both countries.
Focus on trade, investment and knowledge exchange
According to the ministry, the agreement seeks to boost trade and investment through multiple channels, including exchange of information and experts, sharing of best practices, business matchmaking, and technical and economic cooperation.
The MoU also supports joint initiatives to strengthen linkages between MSMEs in India and South Korea, enhancing cross-border partnerships and market access.
Strengthening economic partnership
The government described the partnership as a significant step towards deepening India–Korea economic cooperation, highlighting the shared commitment to positioning MSMEs as key drivers of inclusive growth, innovation, and employment generation.
The collaboration aligns with broader efforts by both countries to expand cooperation across sectors and build resilient supply chains through stronger industry linkages.
(KNN Bureau)
