"Looking for Korea's Export Representatives"... Priority Selection of Diagnostic Kits and Protective Clothing

Ministry of Industry and KOTRA to Recruit 'World-Class Products'... Support Export Marketing and Financial Collaboration for Selected Companies and Products Until the 31st of Next Month

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] The government is identifying South Korea's representative export products. In particular, K-quarantine products such as diagnostic kits and protective clothing, whose global status has risen during the process of overcoming the novel coronavirus disease (COVID-19), will be prioritized for selection.

The Ministry of Trade, Industry and Energy and KOTRA announced on the 17th that they will recruit 'World-Class Products' until the 31st of next month to support domestic companies' entry into the global market.

World-Class Products are a project that selects competitive products and companies, including ▲ 'Current World-Class Products' ranked within the top 5 in global market share and ▲ 'Next-Generation World-Class Products' with high potential to become world-class products within the next 7 years, and supports their exports.

The Ministry of Trade, Industry and Energy plans to swiftly select K-quarantine products such as diagnostic kits and protective clothing, whose global status has risen, as next-generation world-class products through a fast track, and clearly display the logo to indicate that they are Korean products to increase recognition.

Selected products and companies can use the World-Class Product certification and logo, which confirm them as representative Korean brands. They will also receive support for various overseas marketing and financial collaboration projects promoted by KOTRA and 10 other supporting organizations.

The Ministry of Trade, Industry and Energy will increase online export consultation meetings targeting strategic markets such as New Southern and New Northern regions in preparation for the prolonged COVID-19 situation, and support non-face-to-face export marketing such as online promotion.

Additionally, the validity period of the World-Class Product certification will be extended from 1 year to 3 years, and application documents will be simplified to enhance convenience for applying companies. Promotion will be strengthened so that more capable companies, such as those in World Class 300 and Global Small Giants, can be selected as World-Class Products.

Companies wishing to apply for World-Class Products should submit their application forms to one of the 31 sector-specific secretariat organizations or KOTRA by the 31st of next month. The Ministry of Trade, Industry and Energy and KOTRA will finalize the selection of World-Class Products and companies by October after a review process.

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