Break Through Online Trade Without Borders... Busan City Supports Entry into Alibaba.com

Expansion of Support to 33 Companies Entering Alibaba.com

Opening Global Market Channels with the World's Largest B2B Support

Applications Accepted Until March 5 Through Busan Overseas Marketing Integrated System

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City supports local companies to enter Alibaba.com to help them pioneer global market channels.

Busan City (Acting Mayor Lee Byung-jin) has decided to support local small and medium-sized enterprises in securing global sales networks and strengthening online trade capabilities by facilitating their entry into Alibaba.com, the world's largest B2B site, again this year.

Busan City has been promoting the Alibaba.com entry support project, the number one global B2B platform, for the fourth year in preparation for the rapid transition of the 4th Industrial Revolution and the digital economy.

Companies selected through recruitment will receive various preferential services such as paid membership fees for Alibaba.com, detailed page production, store operation, and consulting.

Over the past three years, Busan City has supported newly entered companies and continuously participating companies differently by selecting them separately.

Through this, it provided optimal conditions for securing buyers, such as increased product exposure frequency, improved corporate awareness, and extension of business partners for companies that continuously participated.

As a result, Company C, which participated for three consecutive years, achieved the highest export performance among the entered companies last year despite the pandemic situation, and Company E, which participated for two consecutive years, ranked second in performance, exporting over $600,000 and $120,000 respectively during their participation periods.

This year, the support system will be differentiated by selecting new entrants and existing entrants separately.

▲ New companies will be educated on know-how necessary for online trade, from the entry stage to store operation and buyer response skills, and ▲ existing companies will receive customized support such as extending paid membership qualifications to maximize product exposure and expand and maintain business partners.

To reduce the financial burden on local companies suffering from revenue deterioration due to COVID-19 last year, the self-payment ratio has been lowered from the existing 20% to 10%, and the number of supported companies has been expanded to 33, 11 more than the previous year, actively promoting online exports.

Alibaba.com currently has 260 million buyers. It connects sellers and buyers worldwide in real time online, making it advantageous for discovering potential buyers.

In a consulting visit to entered companies conducted by Busan City and Alibaba.com’s Korean partner, satisfaction with the use and effectiveness of Alibaba.com was generally high regardless of export performance.

Acting Mayor Lee Byung-jin emphasized, “It is important to continuously provide consulting and education along with support for entry into influential online platforms to broaden the perception and expand the base of local companies regarding online trade.”

Companies wishing to participate can apply through the Busan City Overseas Marketing Integrated System by March 5.

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