COVID-19 Impacted SMEs Receive Up to 5 Million KRW Support for Air Freight Charges

Panorama of the Small and Medium Business Corporation

[Asia Economy Reporter Kim Daeseop] The Small and Medium Business Corporation announced on the 18th that it is recruiting companies to participate in the 'Air Freight Cost Compensation Project' due to the novel coronavirus infection (COVID-19).

This recruitment of companies for the Air Freight Cost Compensation Project was prepared to resolve logistics difficulties faced by exporting small and medium-sized enterprises (SMEs) caused by the increase in air logistics costs due to the impact of COVID-19. The application period is until the 29th of this month.

The Small and Medium Business Corporation plans to support up to 5 million KRW within a 30% limit for international air transportation costs and local inland transportation costs used from April to the end of June this year for 1,000 exporting SMEs.

Jung Jin-woo, Head of the Global Growth Division at the Small and Medium Business Corporation, said, "The logistics difficulties of exporting SMEs are severe as air routes have been blocked due to the spread of COVID-19," adding, "Especially as air freight costs are soaring, we will provide prompt support to alleviate the logistics cost burden on exporting SMEs."

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