KOSME-MIDC to promote Korea–India SME ties Through Strategic Partnership
New Delhi, India: 23 April, 2026 – Strengthening the growing economic partnership between Korea and India, the Korea SMEs and Startups Agency, through its Global Business Center (GBC) in New Delhi, has entered into a strategic Memorandum of Understanding (MoU) with the Maharashtra Industrial Development Corporation.
The agreement was formalized at The Leela Palace New Delhi on Monday, bringing together key representatives from both Korean and Indian institutions, along with business and policy stakeholders.
The KOSME delegation was led by Jang Hyuk Park, Vice President, Global Business Development Division, accompanied by Yongheon Kim, Senior Manager, Global Cooperation, and Jae Kyeong Lee, Managing Director, KOSME Global Business Center, New Delhi. On behalf of MIDC, the MoU was signed by P. Velrasu IAS, Chief Executive Officer with participation from Ms. Varsha Thakur Ghuge, IAS, Joint CEO, Dr. Vikas Suryawanshi, General Manager Marketing, and Varad Deshpande, Consultant.
Rather than being limited to a formal agreement, the engagement highlighted practical pathways for collaboration—ranging from easing market entry processes to strengthening industry readiness and exploring partnerships in future-focused sectors.
With Maharashtra continuing to emerge as a key industrial and investment destination, the partnership is expected to support Korean companies in navigating local ecosystems while building stronger connections with Indian industry stakeholders.
KOSME’s ongoing initiatives in Pune have already laid the groundwork for supporting businesses on the ground. This collaboration adds another layer by aligning institutional support with regional industrial capabilities.
The presence of Yong-Seok Roh, Vice Minister from South Korea’s Ministry of SMEs and Startups, further underscored the importance of the initiative within the broader framework of global SME expansion.
As global supply chains continue to evolve, such partnerships are increasingly being seen as essential bridges—linking businesses, enabling collaboration, and opening doors to new markets.
