Gyeongnam Province Supports Manufacturing Companies' Export Transition... Up to 3 Million KRW per Company

Applications accepted until the 23rd... 72 million KRW support for 24 companies following last year

[Image source=Yonhap News]

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 8th that it will carry out the 'Domestic Small and Medium Enterprise Export Conversion Project' again this year for small and medium-sized enterprises (SMEs) in the province that focus on the domestic market due to lack of capital and manpower.

This project consists of five categories: ▲production of export catalogs ▲creation of foreign language websites ▲export logistics costs ▲overseas promotion expenses ▲support for international exhibitions held domestically.

The support scale this year is 24 companies with a total of 72 million KRW, and each company can receive support for up to two sub-projects within 3 million KRW each. Eligible companies are small and medium manufacturing enterprises with headquarters or factories located in Gyeongnam province. Companies with export performance of less than 1 million USD last year can apply.

Companies that received support from the 'Domestic SME Export Conversion' project last year showed clear export performance results.

Company A, a plastic box manufacturer, exported 400,000 USD worth of products last year after receiving support for export logistics costs through the SME export conversion project, and Company B, an organic baby food producer, recorded export performance of 27,000 USD to a Malaysian company last year through an overseas marketing specialized agency.

The application period for this project is until the 23rd, and detailed inquiries can be made to the Gyeongnam Provincial Small and Medium Venture Business Division or the Korea Trade Association Gyeongnam Regional Headquarters.

Sung Heung-taek, head of the Small and Medium Venture Business Division of the province, said, "Although export performance in the Gyeongnam region was sluggish last year due to the spread of COVID-19, the export performance of Gyeongnam province is currently on the rise," adding, "We will actively support the export conversion of domestic SMEs in the province so that this upward trend continues this year as well."

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