Jungjingong, Discovering Alternative Import Sources for Chinese Raw Materials... COVID-19 Damage Support

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[Asia Economy Reporter Kim Daeseop] The Small and Medium Business Corporation announced on the 21st that it will support the discovery of alternative import sources and participation in online exhibitions to resolve difficulties and support exports for small and medium-sized enterprises (SMEs) affected by the novel coronavirus infection (COVID-19).

First, it will support the discovery of alternative import sources and provide free business transaction information to SMEs experiencing difficulties in importing raw materials from China due to regional lockdowns and logistics restrictions within China.

In cooperation with information service companies that possess extensive overseas market information, the Corporation plans to promptly provide alternative import source information to SMEs facing difficulties in securing raw materials.

Additionally, for 'affected companies' facing setbacks in overseas market development due to cancellations of offline events such as exhibitions and restrictions on face-to-face transactions, and 'opportunity companies' experiencing increased demand in crisis-related sectors such as hygiene products, the Corporation will provide free support for online exhibition hall entry and online exhibition promotion and marketing within the online export platform (KOBIZ Korea).

Ban Jeongsik, head of the Online Export Division at the Small and Medium Business Corporation, stated, "We will swiftly promote the arrangement of alternative import sources due to trade restrictions with China and support overseas market development through online exhibitions. We plan to implement various support projects together with the Ministry of SMEs and Startups to minimize the damage to SMEs caused by COVID-19 and furthermore create new opportunities through online exports."

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