European Union launches the EU Business Hub – Japan and the Republic of Korea Programme
The programme aims at enhancing the presence and visibility of European Union (EU) companies in the two high-potential markets in Asia – Japan and the Republic of Korea – by facilitating the participation of 1,000 innovative companies in 20 business missions until 2027.
28 May, Brussels – Today, the European Commission has launched the EU Business Hub – Japan and the Republic of Korea programme.
The programme will connect EU companies with partners in Japan and the Republic of Korea (RoK) by organising 10 business missions to each country over the next four years. The programme will focus on key sectors including green and low-carbon technologies, digital solutions, healthcare and medical equipment.
Each mission will allow a group of 50 innovative EU companies to benefit from business coaching to gain insights on the business culture in these markets, have access to in-depth sector analysis, identify relevant contacts, and establish relationships with potential partners through targeted B2B matchmaking. By 2027, 1,000 EU companies will benefit from the EU Business Hub programme.
"Promoting trade, business and partnerships is at the core of EU policies and strategies. The EU Business Hub programme is an important tool in this sense: it will help our SMEs and start-ups to tap into the opportunities offered by the EU-RoK Free Trade Agreement (FTA) and the Green and Digital partnerships. With the EU being Korea’s third trade partner and first foreign investor, this matchmaking programme will definitely reinforce our external action towards SMEs and start-ups in the RoK," Ambassador of the European Union to the Republic of Korea, H.E. Ms. Maria Castillo-Fernandez noted.
"As the EU's second-largest trading partner in Asia, Japan presents a lucrative market for European SMEs, with its resilient economy expected to sustain 1% GDP growth beyond 2023, primarily driven by robust domestic demand, offering ample opportunities for EU businesses to tap into. The EU Business Hub programme provides EU companies with hands-on support for market entry, positioning the business missions as part of a broader strategy for global expansion. Participation lays the groundwork for sustained growth in the dynamic Asian markets," Ambassador of the European Union (EU) to Japan, H.E. Mr. Jean-Eric Paquet said.
In 2023, there were about 24 million SMEs across the EU representing around 99% of the total number of active companies in the EU. The Asia-Pacific region is the largest destination of foreign direct investment globally and is a powerhouse for global trade. The EU Business Hub programme aims to create export and investment opportunities to support EU SMEs internationalization toward Japan and RoK.
During today’s online launch event, which was attended by 314 participants from 29 countries, the upcoming missions were announced. They will provide tailored B2B meeting schedules, logistical and language support, as well as optional customised services and exhibition space at some of the largest global events to accelerate the business in the energy, digital and healthcare industries. Some of the events include EU Business Hub @SEMICON held in Tokyo from 9-13 December 2024, and Digital Solutions Korea, a software-ICT business fair in the RoK’s from 2-6 December 2024.
EU companies can express their interest in the business missions and find out on how to be selected on the programme’s website.
Background
The EU Business Hub – Japan and the Republic of Korea is an EU-funded programme that supports EU companies in the green, digital, and healthcare sectors to enter these target markets by participating in 20 business missions between 2024 and 2027. The EU Business Hub builds on the legacy of the EU Business Avenues/EU Gateway programme that supported over 6,000 European companies to establish business collaborations in Asia.
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