Shinhan Financial, KOSME to support startups for expanding Japanese market

Shinhan Financial Group announced on Wednesday that it has partnered with the Korea SMEs and Startups Agency (KOSME) to support Korean startups' entry and growth into the Japanese market.

The move is a proactive response to the increasing demand for Korean startups to enter Japan, following the improved relationship between the two countries and accelerated economic cooperation after the Korea-Japan summit.

The partnership will establish a public-private cooperation system for Korean startups to enter and scale up in Japan, and expand exchanges between Korean and Japanese startups. Shinhan Financial Group plans to expand its collaboration with KOSME's Global Business Center and Korea Startup Center in countries other than Japan through its startup acceleration program, Shinhan Futures Lab.

Shinhan Futures Lab Japan, launched in November last year, supports the connection and expansion of the Korean-Japanese venture ecosystem by assisting the entry of domestic startups into Japan.

"We plan to nurture startups by utilizing the startup discovery, cultivation and investment know-how, as well as the global network accumulated by Shinhan Futures Lab, to connect and expand the venture and startup ecosystems of Japan and Korea," said Kim Myung-hee, CDO of Shinhan Financial Group.

An Jung-gon, Head of the Global Growth Division at the Korea SMEs and Startups Agency, said, "We will use our expertise in supporting the localization of small- and medium-sized enterprises in Japan to support the entry of Korean startups into Japan."

Write to Bo-Hyung Kim at kbh21c@hankyung.com