Busan Port Authority Supports Small and Medium Enterprises Using Busan Port

35 Companies Selected for 'Untact' Overseas Market Expansion Support Project

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan Port Authority (BPA) has finalized the companies eligible for support to help small and medium-sized enterprises (SMEs) struggling due to COVID-19 to develop overseas sales channels.

On the 8th, the Port Authority announced that it had selected a total of 35 companies as recipients of the 'Busan Port SME Untact Overseas Sales Channel Development Support Project,' which was open for applications last month.

The Busan Port SME Untact Overseas Sales Channel Development Support Project is a program launched by Busan Port Authority in cooperation with the Busan Chamber of Commerce and Industry to analyze the stages of overseas market development for SMEs and to provide a total of nine support programs through a public call.

The nine support programs consist of promotional material production, export-dedicated personnel development training, overseas branch support, overseas buyer discovery, overseas buyer credit investigation, FTA consulting, interpretation and translation, logistics cost support, and legal, accounting, and patent advisory support. Companies can apply for multiple programs with a support amount limit of up to 8 million KRW per company.

As a result of the public call, the highest competition rate for a single program reached 11 to 1, showing the greatest interest from companies among the support projects promoted by BPA so far. This is interpreted as the result of efforts to reflect the preferences and opinions of export companies in the Busan area for each program before the call, maximizing what beneficiary companies want.

The eligible companies are SMEs located in Busan and Gyeongnam with usage records of Busan Port. Busan Port Authority conducted the evaluation and selection process of applicants jointly with the Busan Chamber of Commerce and Industry. Out of a total of 178 applicants, 35 companies were finally selected.

The selected companies will carry out the respective programs based on the submitted implementation plans over approximately six months from July to December.

Nam Ki-chan, President of BPA, said, “We hope that Busan Port SMEs will seek new directions for untact overseas sales channel development and receive practical assistance to further strengthen their export-import competitiveness.”

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