Busan City Supports Online Market Entry to Target ASEAN

Expansion of Companies in ASEAN Online Market Entry Support Project
30% Support for Increased Overseas Shipping Costs Due to COVID-19

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City's support project to help enter the ASEAN online market is being expanded.

Busan City announced on the 20th that the 'ASEAN Online Market Entry Support Project,' which has been promoted since 2018, will expand the number of target companies from the existing 13 to 20 this year, and will also temporarily support up to 30% of overseas shipping costs due to increased logistics costs caused by COVID-19.

The exclusive online platform for overseas product sales has newly added Lazada in addition to the existing three channels: Sophi and Qoo10. The target countries have also expanded from Singapore, Indonesia, and Malaysia to include Vietnam.

Through this project, for companies struggling to enter online platforms, support will be provided throughout the entire process including page creation and translation, online marketing, CS consulting, and logistics and transportation agency services.

Busan City established the 'Post-COVID-19 3-Stage Economic Response Strategy' last April, anticipating that direct face-to-face marketing such as overseas exhibitions and trade delegations would face difficulties not only in the first half but also in the second half of the year due to the COVID-19 pandemic.

Among them, as part of the second stage 'Manufacturing Business Stabilization' measures, various online platform non-face-to-face export marketing projects to support global business stability are being expanded and promoted.

This project is one of the step-by-step response strategies. To support entry into online platforms in regions other than ASEAN, Busan companies' excellent products are also being supported to enter 129 companies including Amazon.com for the Americas, Alibaba for China, and Amazon, Flipkart, Snapdeal, ShopClues for India.

At the beginning of this year, out of 55 overseas marketing projects (4 billion KRW), the city readjusted 12 projects (659 million KRW) such as exhibitions and delegations into 32 non-face-to-face projects (2.622 billion KRW) such as online marketing. Full support is being provided to reduce export damage caused by COVID-19 and strengthen online trade responsiveness.

Byun Sung-wan, Acting Mayor of Busan, said, "In the future, to shift the direction of export marketing suitable for the post-COVID-19 era, we will discover new export growth engines such as rapidly growing information and communication technology (ICT) and content, and expand non-face-to-face projects that enable local companies to successfully settle in overseas markets."

Busan City will also hold a seminar on "Successful Southeast Asia e-commerce Entry Methods in the Post-COVID-19 Era" at 2 p.m. on the 21st in the conference room on the 4th floor of the Busan Creative Economy Innovation Center. Companies wishing to enter the ASEAN online market can inquire through the Busan Creative Economy Innovation Center website or by phone.

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