Ministry of SMEs and Startups

MSS primarily deploys capital through the Korea Fund of Funds, a government-anchored vehicle that makes LP commitments to domestic venture capital funds. These commitments require co-investment mandates targeting early-stage Korean companies, creating a multiplier effect with private capital. The ministry also operates direct grant programs, acceleration tracks, and a newly established scale-up fund exceeding KRW 1.4 trillion for companies crossing into mid-stage growth.

MSS has formalized a collaboration with Saudi Arabia's Public Investment Fund through a platform called Humain Korea, jointly directing resources toward AI ventures. The ministry also maintains partnerships with global venture firms including a16z Crypto, which provides Korean Web3 startups with expansion pathways into Asian and Western cryptocurrency markets.

Yes. MSS runs K-StartHub in Seoul's Mapo District, the Global Startup Center in Gangnam, and K-Startup Silicon Valley Town in California. These campuses provide co-working space, acceleration programs, and regulatory sandbox environments for domestic companies seeking international market entry — functioning as government-operated venture studios.

MSS oversees the certification process for virtual asset service providers in South Korea, placing it at the intersection of crypto policy and startup formation. This regulatory function coexists with its partnership with a16z Crypto, suggesting a dual posture of enabling Web3 innovation while enforcing compliance standards.

Unlike the Korea Development Bank, which focuses on industrial lending and large-scale corporate finance, MSS operates startup-dedicated physical campuses, runs a fund-of-funds specifically for venture capital, and controls certification authority for emerging digital-asset sectors. Its vertically integrated model — policy design, direct investment, infrastructure operation, and international soft-landing — blurs the line between a development finance institution and an active market participant.