KOTRA and Ministry of Trade Launch Export Pioneer Business Club to Support Exports of Mid-sized Domestic Companies

[Asia Economy Reporter Su-yeon Woo] KOTRA and the Ministry of Trade, Industry and Energy held the 'Export Pioneering Business Club Launch Ceremony' on the 15th at the Invest Korea Plaza (IKP) headquarters in Yeomgok-dong, Seoul, to support domestic mid-sized companies with limited export experience in exploring overseas markets.

The launch ceremony was organized to commemorate and publicly promote the commencement of the domestic mid-sized export leap globalization support project, a key task of the 'Lighthouse Project for Mid-sized Company Leap' announced by the Ministry of Trade, Industry and Energy last February. Through this project, KOTRA supports mid-sized companies in discovering overseas markets and marketing activities to help them grow into global export companies.

At the launch ceremony, 50 domestic mid-sized companies selected for the export leap project participated both online and offline to sign agreements. KOTRA also held an export consultation meeting at its headquarters for domestic and export beginner mid-sized companies. To respond to the reorganization of the global value chain (GVC), pinpoint consultations were supported between Stellantis, the world's fourth-largest global automobile brand, and promising domestic mid-sized automotive parts companies.

Park Jin-kyu, Vice Minister of the Ministry of Trade, Industry and Energy, said at the launch ceremony, "Small and mid-sized companies are the backbone of our industry and have infinite potential to grow into export companies driving our economic growth. The government will continue to provide various support such as overseas marketing and utilization of export networks and infrastructure so that small and mid-sized companies can take the lead in pioneering overseas markets and expanding exports."

Kim Jong-chun, Vice President of KOTRA, said, "Despite the simultaneous downturn in exports of major countries last year, Korea's exports performed well even under the unprecedented COVID-19 situation. We plan to actively support the export expansion of domestic or early-stage export small and mid-sized companies to maintain the recent positive export trend."

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