Gyeongbuk Province Acts as Overseas Branch for Companies... Utilizing KOTRA Trade Offices Worldwide

Recruitment of 100 Participating Companies Starting February 1 (Mon) This Year

KOTRA's online and offline hybrid Korean Pavilion set up in Ho Chi Minh City, Vietnam.
[Image source=Yonhap News]

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Gyeongsangbuk-do is recruiting participating companies for the 'Overseas Joint Logistics Support Project' starting February 1st to assist local export companies facing difficulties in entry and exit due to the spread of COVID-19.

The Overseas Branch Office Project involves carrying out various tasks such as local market research, discovering importers, supporting export contract conclusion, and obtaining permits and approvals. The Overseas Joint Logistics Support Project delegates joint storage, inbound and outbound processing, customs clearance, and delivery to local logistics companies selected by KOTRA overseas trade centers.

Last year, when overseas business trips were blocked due to the COVID-19 situation, Gyeongsangbuk-do responded to the sharp increase in urgent requests from companies by investing a total of 350 million KRW, including special COVID-19 response budgets, in urgent overseas branch office projects, supporting 110 companies.

Among them, 69 companies achieved export contract results totaling 9.8 million USD (approximately 100 billion KRW). Most companies requested assistance in discovering local importers of interest, confirming handled items, acting as liaison, conducting on-site visits, and understanding product delivery status.

This year, a budget of 200 million KRW has been allocated to support 100 local export companies by covering 50% of the annual participation fee of 2.5 to 3.5 million KRW for the 'Overseas Joint Logistics Support Project' operated by 127 trade centers in 84 countries worldwide.

Companies wishing to participate can contact the Gyeongsangbuk-do Foreign Affairs and Trade Division or the Daegu-Gyeongbuk KOTRA Support Group Gumi Branch Office.

Baek Seong-gil, Director of the Job and Economy Office, stated, "The Overseas Branch Office Project is a program where KOTRA overseas trade centers, the representative export ant army of Korea, directly act as branches for our companies to assist exports, and it will be a breakthrough in the COVID-19 era."

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