Considering the emerging opportunities in India, a surge in the influx of Korean small and medium-sized business enterprises is expected, Korea SMEs & Startups Agency (KOSME) has announced plans to double its capacity for inviting more Korean businesses at its Global Business Center (GBC).
Situated at the DLF Cyber City, the GBC currently has 30 Korean SMEs and startups situated, but has an ambitious plan to make room for more 60 entities at its ultra-modern facility. So far, KOSME has supported more than 100 Korean starups in India. An arm of the Korean Ministry of SMEs and Startups, KOSME provides vital support to Korean SMEs, including office space at subsidized rates to help them settle in India and compete in the competitive Indian market. It also provides consulting on localization, corporation establishment, logistics, customs clearance, and local employee recruitment. This comprehensive support structure is designed to facilitate the smooth entry and operation of Korean SMEs in the Indian market.
LEE Jae Kyeong, Director, KOSME, New Delhi shared, “KOSME’s shared office currently supports a company for up to four years. At present, 30 companies are affiliated with KOSME, with 14 in cabin offices and 15 in common spaces at the GBC. We plan to double the capacity for accommodating 60 companies here to benefit more SMEs and startups. During the first year of operation, we charge 20% of the standard rentals, it is 50% during the second year, and 100% during 3rd and 4thyear.”
