Small & Medium Business Administration (SMBA) signed a Memorandum of Understanding (MOU) with Alibaba Group, the world's largest e-commerce group, on Sept. 10 to promote Korean small & medium-sized enterprises' overseas marketing via e-commerce.
The signing took place during the Alibaba-hosted Netrepreneur Summit in Hangzhou, China. The MOU features a joint campaign for on-line exports, education related to on-line export, and acceleration of on-line export activities.
Under the MOU, SMBA and Alibaba.com will conduct a joint campaign to create growth opportunities for online exports. They will also collaborate on educational programs to teach online exporters industry best practices, help small businesses to enter online B2B marketplaces, support exhibitions that provide offline meeting opportunities with online buyers, and sponsor awards for exemplary online exporters.
Both parties will also provide active support for cooperation projects with sister organizations. Those projects include the 'Export to China (ETC) Korean Channel' project, led by Alibaba.com's domestic trading site in China and KOTRA and featuring a small lot wholesale model to introduce Korean apparel & lifestyle goods to China.
In remarks at the MOU signing, SMBA Administrator Kim, Dong-sun said: "The Korean government announced a program to promote online export methods for SMEs on September 1 this year. An expression of the Korean government's strong resolve to invigorate on-line exports, the gist of the program included enhancement of awareness of online exports, cultivation of specialized on-line export-related manpower, support for start-up of online export enterprises and coalitions with off-line businesses. We hope that Korean small businesses, who are powered by strong IT & trade assets, will enjoy more opportunities as they become online export leaders, and we will introduce policies to foster them accordingly."
"The Korean government's proactive support system for small businesses is world-class," said David Wei, CEO of Alibaba.com, the listed B2B subsidiary of Alibaba Group. "The number of global buyers who seek Korean products, which represent high quality and cutting-edge design, are on the rise. Koreans' have demonstrated their strength and commitment by joining the leadership in international markets by many measures. We see an opportunity for them to grow even stronger in the global market through online channels. We will support Korean small businesses as they learn about online trade starting from practical, educational programs."
About Alibaba Group
Alibaba Group is a global e-commerce leader and the largest e-commerce company in China. Since it was founded in 1999, Alibaba Group has grown to include the following core businesses: Alibaba.com (HKSE: 1688; 1688.HK), Alibaba Group's flagship company and the world's leading B2B e-commerce company; Taobao, China's largest Internet retail Web site and a one-stop platform for shopping, socializing and information sharing; Alipay, China's leading third-party online payment service; Alibaba Cloud Computing, a developer of advanced data-centric cloud computing services; and China Yahoo!, one of China's leading Internet portals