Gyeongnam Province, Second Recruitment for 15 Companies in Overseas Branch Support Project

Gyeongsangnam-do Provincial Government Building Exterior

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Choi Hyun-joo] Gyeongnam Province announced on the 1st that it will conduct an additional recruitment for the ‘Overseas Branch Support Project’ until the 10th.

The ‘Overseas Branch Support Project’ is open for applications year-round to promote exports of small and medium-sized enterprises (SMEs) in the province. This year, due to the impact of the novel coronavirus disease (COVID-19), the number of applicants was high and the initial quota was exhausted early, leading to this additional recruitment.

This project supports SMEs lacking overseas market development capabilities and conditions for establishing overseas branches by partnering with KOTRA and the Small and Medium Business Corporation’s private networks to act as local branches and assist with exports and overseas market entry.

KOTRA supports 80% of the participation costs for companies selected through export capability and overseas market potential evaluations. For one year from the project start date, professional services from KOTRA trade offices familiar with local business culture are provided, including support for ‘export contracts, logistics customs clearance, acquisition of permits, brand promotion, and establishment of local corporations.’

SMEs located in the province wishing to participate can apply online by registering for free on the provincial overseas marketing project support system and submitting the Overseas Branch Support Project application form along with a copy of their business registration certificate and other required documents. However, duplicate support from other institutions is not allowed.

A Gyeongnam Province official stated, “Going forward, the province will continue to support the growth of local SMEs and the development of overseas sales channels through various support projects.”

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