Ministry of SMEs and Startups Recruits SMEs Aspiring to Enter Overseas Procurement Markets... 32 Companies Apply

[Asia Economy Reporter Junhyung Lee] The Ministry of SMEs and Startups announced on the 28th that it is recruiting small and medium-sized enterprises (SMEs) to participate in the '2021 SME Overseas Procurement Market Entry Support Project.' The period is from the 29th to the 23rd of next month.

The SME Overseas Procurement Market Entry Support Project is a program that supports domestic SMEs wishing to enter overseas procurement markets by providing education, consulting, and marketing related to overseas procurement. Since last year, it has been promoted to support the foundation for entering the overseas procurement market, which has been recognized as a promising export market after COVID-19.

This year, the Ministry of SMEs and Startups will support a total of 32 companies. Selected companies will first receive consulting tailored to each company to enhance their understanding of the overseas procurement market. Assistance will also be provided in establishing strategies for entering overseas markets.

After consulting, excellent companies with high potential for entering overseas procurement markets will be selected to support marketing activities such as promotional videos and electronic catalogs. Support also includes matching with buyers who will enter the target market together. 30% of the marketing costs will be borne by the selected companies as their own contribution.

Kang Ki-seong, Director of the Global Growth Policy Division at the Ministry of SMEs and Startups, stated, "Considering the achievements of K-quarantine, our country's products are recognized globally for their excellent technology," adding, "We will actively support domestic SME products to find new sales channels in overseas procurement markets."

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