Jungjingong, Fostering Global Shopping Malls Centered on 5 Key Consumer Goods

[Asia Economy Reporter Moon Hyewon] The Ministry of SMEs and Startups (MSS) and the Small and Medium Business Corporation (SBC) announced on the 3rd that they are recruiting participating companies for the '2020 In-house Shopping Mall Development Project' until the 7th.

The development fields cover five core consumer goods sectors (clothing, cosmetics, daily necessities, agricultural and marine products, pharmaceuticals).

Eligible applicants are companies that own in-house shopping malls built in foreign languages and capable of providing payment, delivery, exchange/return, and customer service. This year, a new category called 'Online Branch Establishment' is also being recruited to support the costs of opening and operating local overseas shopping malls.

Participating companies will receive subsidies covering up to 70% of the total project cost, with a maximum of 100 million KRW, differentiated according to the stage of online export growth, for expenses such as in-house shopping mall promotion, marketing, and mall renewal costs.

An additional promotional opportunity will be provided through a second-half evaluation, where companies with excellent export performance will receive 100% of the support funds as incentives.

Applications for participation can be made through GoBiz Korea, and detailed information can be obtained by contacting the SBC Online Export Division.

This content was produced with the assistance of AI translation services.