Brief History

2022~

Establishment of Innovative Growth System centered on SMEs and Startups

Reform of regulation, Enhancement of policy performance based on private-sector cooperation, Revitalization of ecosystem to support local SMEs.

• January 2023 Reorganization of export BI(Business Incubator) into GBC(Global Business Center)
• June 2022 New opening of K-Startup Center Paris
• February 2022 Establishment of Corporate Restructuring Center(in 10 Regional HQ/District Offices)

2017~2021

Job Creation / Income-led Innovative Growth, Fair Economy

Supporting Growth with Innovation Creating an Environment for Fair Economy Supporting Job Creation

• April 2021 Expansion of Youth Startup Academy (Newly opened in Sejong, 18 academies in total)
• November 2020 Designated as a dedicated agency for the Regulation Free Special Zone
• December 2019 Opened more Support Centers for SME's New Challenge in 18 regions across the nation in total
• September 2019 Opened two KSCs (Seattle, the US and New Delhi, India)
• April 2019 Changed name to Korea SMEs and Startups Agency
• September 2018 Opened more Youth Startup Academies in 17 regions across the country in total
• June 2018 Established KOSME Partners
• March 2017 Established Personnel Solution Center

2013~2016

Virtuous Circles for SMEs' Growth

Supporting SMEs depending on their life cycle Enhancing SMEs' ability for globalization and competitiveness Focusing on support for startups, SMEs, and renewed challenges<

• April 2015 Took over businesses of training workforce and consulting from Korea Technology and Information Promotion Agency for SMEs
• November 2014 Opened Global BIs (Hanoi, Xian, and Almaty)
• October 2014 Opened Global Leadership Training Institution
• August 2014 Launched KOSME's Mutual Aid Fund for Long-term Workers
• July 2014 Completed relocation (Jinju-si, Gyeongsangnam-do)
• December 2013 Established Global Distribution Network Support Center (New Jersey, The US)

2008~2012

New Growth

Making new growth industry stronger and future growth foundation solid Providing services more related to business diagnosis Nurturing startups at their early stage Focusing on support for technology commercialization

• December 2012 Designated as a financing quasi-government agency
• January 2012 Opened Youth Startup Center
• March 2011 Opened Startup Academy of KOSME
• January 2009 Opened Western Genogram District Office
• January 2009 Changed the name of funds to Small and Medium Enterprise's Start-up and Promotion Fund
• June 2008 Took over Industry Support Fund and export support program as unifying the management of policy funds and overseas marketing
• January 2008 Opened Southeastern Seoul District Office

2003~2007

Regional Innovation

Implementing new projects in response to changes in the economic environment, from structural sophistication and 5-day workweek, to easing youth unemployment and preventing the hollowing-out of the manufacturing industry
Participating Regional Innovation Strategy such as regionally specialized start-up, Network-Hub Demonstrations, and operation of Inno-cafés

• December 2007 Established Business Change Support Center
• November 2007 Opened Global Outsourcing Center and residence area of Training Center for SMEs with extension
• April 2007 Opened Trade Adjustment Support Center
• September 2006 Opened Novosibirsk Technology Cooperation Center and Middle and Western Gyeongbuk District Office
• August 2006 Opened Eastern Gyeongbuk District Office, Western Gyeonggi District Office, Western Jeonnam District Office, and Eastern Jeonnam District Office
• October 2005 Held Biz-Mate Ceremony for field-centered service
• March 2005 Opened Korea SMEs and Startups Business Center in Qingdao, China
• October 2004 Opened Korea SMEs and Startups Training Institute - Busan‧Gyeongnam
• November 2003 Opened Korea SMEs and Startups Training Institute – Daegu‧Gyeongbuk
• September 2003 Opened Northern Chungnam District Office

1998~2002

Beyond the IMF Financial Crisis

Providing direct loans under the IMF Bailout Program Focusing on support for SMEs and Startups Expanding total limit of loans for one year to 2 trillion KRW Implementing the second 5-Year Economic Development Plan

• March 2002 Took over Industrial Foundation Fund following the revision of Framework Act on Fund Management and changing its name to Small and Medium Enterprise Establishment and Industrial Foundation Fund
• September 2001 Opened Korea SMEs and Startups Training Institute – Honam
• February 2001 Opened Korea IT Venture Center (Japan)
• October 2000 Opened Korea Venture Support Center (the US)
• July 2000 Opened out-reach counseling centers (17 centers across 10 regions)
• June 2000 Opened Support Center for SMEs' Business with North Korea
• March 2000 Established a subsidiary, Korea Venture Investment Corporation (before: Dasan Venture)
• December 1999 Opened Happy Department Store
• September 1998 Established Export Business Incubator to strengthen support for SMEs' export
  - Chicago(’98), Frankfurt, Beijing(’02), LA, Guangzhou (’93) Washington, Tokyo, Ho Chi Minh, Sao Paulo(’04), New York, Shanghai, Singapore, Moscow, Dubai, New Delhi(’06), Chengdu(’07), Mexico City(’08)

1993~1997

5-Year Economic Development Plan

Implementing structural improvement project with 1 trillion KRW a year following the 5-Year Economic Development Plan(Huge scale-up in policy funds)

• December 1995 Established a subsidiary, Small & Medium Business Distribution Center
• July 1995 Established a subsidiary, Small & medium Business Corporation Registrar (before: SME Certification Center)
• January 1995 Under the SME Promotion and Product Promotion Act, managed Small and Medium Enterprise Structural Sophistication Fund, Start-up Support Fund and Local SME Fostering Fund
• October 1994 Opened Software Business Incubation Center
• April 1993 Implemented a program to improve business structures of SMEs

1988~1992

Accelerating Restructuring

Implement restructuring projects such as process improvement, informatization, technology development, and business changes, as well as taking over businesses from conglomerates and moving idle facilities overseas

• November 1992 Started the construction for the Business Incubation Center
• January 1992 Partial revision to the Supporting Fund Program
• August 1991 Opened SME Location Information Center
• September 1989 Started SME restructuring

1979~1987

Modernization

Prioritizing modernization of SMEs with support for financing, consulting, worker training, and information

• February 1985 Began establishing regional offices and district offices (currently 31 in total)
• December 1982 Took over businesses of Korea Industrial Technology Agency
• October 1982 Opened Korea SMEs and Startups Training Institute –Ansan
• July 1980 Took over businesses of Korea Agricultural Product Development Agency
• September 1979 Began establishing overseas offices (Germany, the US, Japan, and China)
• January 1979 Began establishing KOSME (with 7 departments 3 offices and 195 employees)
• December 1978 Enacted and declared the Small and Medium Enterprises Promotion Act