South Korea launches support programme to boost small cooperatives

South Korea has introduced a new support programme aimed at strengthening small cooperatives by helping them scale through collaboration and shared resources. Led by the Ministry of SMEs and Startups, the initiative focuses on enabling cooperatives to build economies of scale and enhance their competitiveness.

The programme provides joint funding for activities such as production and sales, technology development, marketing, and brand building. It is designed to encourage small businesses to work together more closely, improving efficiency and expanding market reach.

Around 40 cooperatives are expected to benefit, with funding levels determined based on performance and potential impact. Priority will be given to those contributing to local economic development and demonstrating strong cooperative structures.

By promoting collaboration and targeted investment, the initiative reflects a broader effort to support small enterprises and reinforce the role of cooperatives in driving inclusive economic growth.