Civic News
Municipal government / Startups

Maryland wants to ease US entry for South Korean startups

The agreement between top state leaders and the Korea SMEs and Startups Agency is looking to offer Korean startups a landing point in Maryland.

Officials including Maryland First Lady Yumi Hogan sign an MOU on Sept. 20. (Photo courtesy of Maryland Department of Commerce)
A new agreement between Maryland and South Korea is focused on helping startups find a foothold in the U.S.

On Monday, Maryland First Lady Yumi Hogan signed a memorandum of understanding with Hakdo Kim, president of the Korea SMEs and Startups Agency (KOSME).

Through this agreement, the two entities will work together to support Korean tech and environmentally focused small and medium-sized businesses, as well as startups, as they enter the American market. That could bring potential for the companies to join the Maryland Department of Commerce’s soft landing program, which connects companies looking to explore the U.S. with offices and resources at local startup spaces.

The entities will also share resources in industry areas like aerospace, biohealth, cybersecurity and renewable energy.

“Collaborating with the Republic of Korea and KOSME not only benefits both of our regions, but it further solidifies Maryland as the prime destination for entering the United States,” Gov. Larry Hogan said in a statement. Hogan also signed the agreement prior to the meeting.

It builds on existing ties between the state and South Korea. Maryland Commerce is currently leading a virtual trade mission to the county. Even before that, KOSME inked a partnership with Rockville-based BioHealth Innovation that’s focused on supporting  biomedical companies. In 2019, Howard County’s Maryland Innovation Center set up its own soft landing space with Korean government agency Born2Global.

“I believe that the MOU will be a great opportunity to expand the partnership to green and high-tech fields and promote regional innovation for South Korea and the state of Maryland,” Kim said in a statement.

The state has a number of trade agreements with other countries that are designed to support tech, cyber and life sciences companies. During Hogan’s administration, the state has signed such pacts with Australia, the Netherlands, Great Britain’s Midlands region and Israel.

For local tech companies looking to go international, it also offers ExportMD grants to companies that help with international marketing costs. We recognize familiar startup names like ClearMask, Sonavi Labs and CoapTech in the latest batch of recipients.

Companies: State of Maryland

Before you go...

Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Trending

Public innovation should be an icon in Baltimore, like crabs or snowballs

5 local orgs with services and resources for startups and entrepreneurs

How 3 local orgs help founders and entrepreneurs build their networks

The end of software as technology

Technically Media