Jungjingong, Recruiting Resident Companies for 'Export Incubator'

Operating 20 Locations in 12 Countries

[Asia Economy Reporter Kim Daeseop] The Small and Medium Business Corporation announced on the 10th that it is recruiting companies to move into the 'Export Incubator,' which operates in 20 locations across 12 countries including the United States and China, to support the global expansion of small and medium-sized enterprises (SMEs) and venture businesses.

The recruitment for companies to move into the Export Incubator is open to SMEs and venture businesses wishing to explore overseas markets. Applications can be submitted through the Small and Medium Business Corporation's website. The regional headquarters and branches of the Corporation, along with the Export Incubator, will evaluate the suitability of applicants and select the final companies through a review committee. Selected companies can receive various services from the Export Incubator after signing the occupancy contract.

The Export Incubator project provides separate office spaces locally (with 80% rent support in the first year and 50% in the second year) to companies aiming to enter overseas markets, and offers consulting on marketing, legal matters, and market information related to local expansion. Since 1998 until last year, a total of approximately 4,970 companies have been supported through this project, achieving export results of about 691.9 million USD.

In particular, the related budget will be significantly expanded starting next year. New specialized local programs will be supported for each Export Incubator, including government procurement registration support and assistance for entry into large distribution networks.

Lee Seonghee, Head of the Global Growth Division at the Small and Medium Business Corporation, said, "Although the overseas expansion of domestic SMEs and venture businesses has somewhat slowed due to COVID-19, demand for Korean products overseas continues to increase steadily," adding, "Now is a good opportunity to move into the Export Incubator."

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