Qoo10 Supports Korean SMEs Entering Singapore Market

Jungjinkong Selected as Platform for 'Online Export Enterprise Project'

[Asia Economy Reporter Minyoung Cha] Qoo10 announced on the 6th that it has been selected as the platform to carry out the ‘2020 Online Export Enterprise Project’ by the Ministry of SMEs and Startups and the Small and Medium Business Corporation.

Qoo10, an online shopping platform, will participate as a platform company supporting enterprises entering the New Southern Market, which is gaining attention as the post-China market, in this project aimed at revitalizing online exports for small and medium-sized enterprises.

Based on survey results conducted by the Small and Medium Business Corporation targeting domestic SMEs, Qoo10 was selected as the operator of the Singapore online market. It also participated in the ‘2019 Online Export Enterprise Project.’

This project targets domestic companies without export performance as of last year and export beginner companies with export performance under $100,000. Participating companies can enter global e-commerce platforms including Qoo10 Singapore, Southeast Asia, the United States, China, Japan, and India, and receive partial support for incurred costs.

The support limit is more than 30% higher when entering Qoo10 Singapore, classified as the New Southern Market, compared to major market platforms such as the United States, China, and Japan. Up to 70% of the incurred costs, up to 4.8 million KRW, can be subsidized.

Costs used for product page creation, online marketing, and sales account operation, as well as expenses necessary for trademark application, legal and tax consulting, design development, and intellectual property registration are also included in the support scope.

To maximize the capabilities of domestic sellers, Qoo10 provides in-depth marketing and selling know-how training and group mentoring services involving professional sellers for participating companies listed on its own mall.

At the end of the year when the project concludes, a separate event will be held to share and reward the achievements of companies with excellent listing and online export results.

A total of about 2,000 companies, including 800 domestic companies and 1,200 export beginner companies, will be recruited until the end of July, and the recruitment will close early if the project budget is exhausted. Applications can be made on the GoBiz Korea website operated by the Small and Medium Business Corporation.

A Qoo10 official said, “By entering e-commerce platforms with high local recognition when entering overseas markets, companies can reduce time and cost risks,” and added, “We will spare no support to ensure that excellent products of domestic SMEs succeed in Singapore, the gateway to the Southeast Asian market.”

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