They will participate in the Donghaen Festival in Hanoi next month, the first step of the RoK Ministry of SMEs and Startups' globalization strategy in Vietnam to support its 1,000 domestic companies to become enterprises with strong export products.

The Ministry of SMEs and Startups announced on July 29 that a project called 'K-Innovation Mission' to encourage the smaller companies to innovate and export abroad has completed the process of selecting businesses to participate in the event in Vietnam.

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Hana Micron Vina Co., Ltd., 100 per-cent invested by the RoK, in Bac Giang province

Accordingly, the ministry has received a list of 125 companies registered to participate in the project.

The companies that have registered to participate in the project are SMEs and joint ventures in promising sectors such as beauty, consumer goods manufacturing and software.

The Donghaen Festival will be held in Hanoi starting on August 28.

Participating enterprises will be supported with many programs such as connecting them with potential Vietnamese partners and consulting to enhance export efficiency.

In particular, the government will allocate a budget to support enterprises in the fields of innovation and software to help them strengthen their export capacity.

The 'K-Innovation Mission' project is a comprehensive package of measures to enhance the capacity of Korean SMEs and startups to increase their export capacity.

The project receives advice from Korean embassies abroad as well as Korean public organizations.

Enterprises will be provided with advice, information and be supported to resolve difficulties that small- and medium-sized enterprises encounter when entering foreign markets.

Source: VNA