Ministry of SMEs and Startups to Support Exporting SMEs with up to 100 Million Won... Recruiting Companies for Export Voucher Program

Providing 12 Overseas Marketing Methods Including Buyer Discovery, Exhibitions, and Design Development
Applications Accepted on Export Support Platform Website Until January 15 Next Year

Park Young-sun, Minister of SMEs and Startups, is speaking at the Regulatory Free Zone Deliberation Committee held at the Korea Chamber of Commerce and Industry in Seoul on the afternoon of the 28th. Photo by Yonhap News Agency

[Asia Economy Reporter Kim Heeyoon] The Ministry of SMEs and Startups announced on the 8th that it will recruit the first round of participants for the 2021 Export Voucher Program to support the growth and innovation of domestic and export SMEs.

The Export Voucher Program is an overseas expansion marketing support project that provides export support services through vouchers composed of government subsidies and company contributions. Companies can choose from 12 services such as design development, promotion, buyer discovery, exhibitions, and certification, and select service providers to receive export support. A budget of 73.3 billion KRW has been allocated for this recruitment. The Ministry plans to support 2,150 companies starting from April next year.

The recruitment fields consist of the 'Growth Voucher,' which supports export growth stages, and the 'Innovation Voucher,' which strategically supports companies driving innovative growth. Especially next year, to foster system semiconductors, future cars, bio-health, and K-Bio companies, the Innovation Voucher will newly establish new industry and K-Bio sectors, providing support worth a total of 3 billion KRW.

Small and medium enterprises finally selected for the Export Voucher Program will receive export vouchers ranging from 30 million KRW to a maximum of 100 million KRW depending on their export scale from the previous year. Using the vouchers received, they can utilize services throughout the export process, including export strategy, design, promotion, and certification, at accredited executing institutions. Companies selected for Innovation Vouchers such as Brand K will receive up to 100 million KRW regardless of their previous year's export scale.

No Yongseok, Director of Global Growth Policy at the Ministry of SMEs and Startups, said, "Exports of companies supported by the Export Voucher Program increased by 13.6% from January to September this year, which is 16.6 percentage points higher than the overall export growth rate of -3.0% for all export SMEs during the same period last year," adding, "We will continue to make policy efforts so that companies wishing to export can receive practical support."

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