"Overcoming COVID-19 Challenges"... Export Marketing Support for 312 Small and Medium-sized Enterprises

Ministry of Trade, Industry and Energy-KOTRA Promote 'Mid-sized Companies Global Support Project'

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] The Ministry of Trade, Industry and Energy and KOTRA selected 89 companies to participate in the 'Mid-sized Enterprise Global Support Project' on the 3rd and will actively promote export marketing support.

Earlier this year, 223 companies were selected in the first half, but to support companies facing export difficulties due to the novel coronavirus disease (COVID-19), an additional 89 companies were selected, planning to support exports of a total of 312 small and mid-sized enterprises this year.

This project mainly selected mid-sized and small-to-medium enterprises with high willingness to expand overseas, such as the 'World Class 300,' to secure future growth engines this year.

Companies related to K-quarantine, which gained prominence due to COVID-19, bio-related companies, and producers of advanced technology products such as 5G and IT services leading the 4th Industrial Revolution accounted for a high proportion.

Selected companies will be issued export vouchers that allow them to utilize various overseas marketing services such as one-on-one consulting with KOTRA export specialists, market research, promotion, and discovering new markets through local agents.

For promising items such as medical devices, hygiene products, and wireless equipment, whose demand surged due to COVID-19, KOTRA's overseas trade offices will provide export support services including managing local business partners, matching overseas buyers, supporting export contracts, video consultations, and online marketing services.

The Ministry of Trade, Industry and Energy plans to expand the support budget for promising mid-sized enterprises' global market entry and carry out non-face-to-face marketing activities using KOTRA trade offices and diplomatic missions.

Next year, a dedicated track for domestic mid-sized enterprises will be newly established in the Mid-sized Enterprise Global Support Project to provide customized services for domestic mid-sized enterprises, such as target market selection and buyer matching consulting.

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