Application period runs from June 16 to July 19
The Ministry of Economy and Finance and the Korea Trade-Investment Promotion Agency (KOTRA) have launched a revamped version of the Knowledge Sharing Program (KSP) private-sector proposal initiative, placing greater emphasis on supporting the overseas expansion of Korean companies through strategically selected projects.
Under the revised framework, applications will be accepted from June 16 to July 19.
The Knowledge Sharing Program (KSP), established in 2004, is Korea’s flagship development cooperation initiative that shares the country’s economic development experience and policy expertise with partner nations while promoting bilateral economic cooperation.
Introduced in 2022, the KSP private-sector proposal scheme marked a shift away from the traditional model, in which projects were developed primarily in response to requests from partner governments. Instead, Korean companies are encouraged to identify local market needs, leverage their own competitive strengths, and proactively propose projects to partner countries.
Since its launch, the initiative has generated 19 policy projects across sectors including digital technology, energy and shipbuilding, helping create pathways for Korean businesses to enter overseas markets.
Among the notable examples, a consulting project on the modernization of aging power substation operations in Malaysia led to the installation and pilot operation of a Korean company's power equipment solution. In Peru, a policy advisory project aimed at fostering the shipbuilding industry and related sectors contributed to a Korean company signing a letter of intent (LOI) related to submarine construction.
The latest reform is designed to strengthen support for projects that align closely with Korea’s economic security priorities and national interests while offering strong commercial potential for participating companies.
As part of the changes, the government has introduced dedicated strategic categories covering artificial intelligence and digital transformation, supply chains, culture and infrastructure, and green energy. The objective is to identify and develop projects that support Korea’s broader external economic policy goals.
At the same time, a general category will remain available, allowing companies to submit proposals in other areas linked to overseas investment and market expansion, thereby preserving opportunities for private-sector innovation and creativity.
The application process has also been simplified. Under previous rules, applicants were required to submit official demand documents from partner governments or institutions, such as letters of intent (LOIs) or memoranda of understanding (MOUs). That requirement has now been removed.
Officials expect the change to broaden participation, particularly among small and medium-sized enterprises that possess strong commercialization ideas but may lack extensive overseas networks.
The government is also expanding field-level support through KOTRA's global network. Companies selected for the program will receive one-on-one consulting support from KOTRA overseas trade offices. First-round candidates will work with local trade office teams to prepare Project Concept Papers (PCPs) for submission to partner governments.
KOTRA offices will also assist with engagement with local authorities, coordination with relevant institutions, and the identification of potential business partners, helping improve project feasibility and execution.
Looking ahead, the government plans to further develop the KSP private-sector proposal initiative into a platform through which Korean companies can directly design economic cooperation and development investment projects with partner countries.
Officials also intend to strengthen collaboration between government and industry from the earliest planning stages, improve project viability, and address obstacles facing Korean businesses in overseas investment and export activities.
To support participation, the Ministry of Economy and Finance and KOTRA will hold an information session on June 23 at Invest KOREA Plaza (IKP) in Seoul. A dedicated one-on-one consultation booth for applicants will also be operated during the Global New Trade Forum at EL Tower in Seoul on June 30.
Companies and organizations interested in participating may submit applications through KOTRA's Trade-Investment 24 platform until July 19.
