Jungjingong Supports $213 Million Export of 'K-Non-face-to-face Business' Through Overseas Bases

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Park Young-sun, hereinafter referred to as the Ministry) and the Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 3rd that approximately 213 million USD in contracts have been made through the non-face-to-face overseas expansion support project (hereinafter K-Non-face-to-face Project) utilizing SBC's overseas bases since July this year.

The K-Non-face-to-face Project supports export companies by utilizing 25 overseas bases, including export incubators (BI) located in 16 countries, providing online export consultations, technology exchange consultations, online seminars, and online mentoring. So far, a total of 46 sessions have been conducted. As a result, a total of 1,096 participating companies have received 1,324 export consultations, and through consultations worth approximately 444 million USD, it is expected that contracts worth about 213 million USD will be concluded.

For example, 13 companies participating in the startup overseas expansion support program at Ho Chi Minh BI are in the process of concluding contracts worth about 25 million USD (approximately 27.5 billion KRW) through 58 buyer consultations. Also, Company A, which produces bidets, participated in the non-face-to-face consultation at New York BI to actively utilize the increasing demand after COVID-19, and as a result of consecutive meetings with buyers from major US distribution networks, achieved US exports of 2 million USD, a 100% increase compared to last year.

SBC checks business performance at two-week intervals for follow-up management and support for participating companies, and plans to increase the proportion of online non-face-to-face projects next year to fully support domestic export companies in the post-COVID-19 era. Kim Hak-do, Chairman of SBC, said, "The K-Non-face-to-face Project has played a pioneering role in opening export channels for SMEs and startups that have been shrinking due to COVID-19," adding, "We will focus more on follow-up support from overseas bases so that export companies can successfully conclude visible export contracts with buyers matched through online consultations."

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