Ministry of SMEs and Startups and Korea SMEs and Startups Agency Recruit Companies for Logistics-Exclusive Export Voucher Program Participation

Recruitment until the 13th... Approximately 780 Export Small and Medium Enterprises

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Kwon Chil-seung, hereinafter referred to as the Ministry) and the Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 1st that they are recruiting companies to participate in the logistics-only export voucher project.

Following the passage of the second supplementary budget bill at the National Assembly plenary session on the 24th of last month, the Ministry and SBC secured a budget of 10.9 billion KRW for the logistics-only export voucher project, subsequently announcing the voucher project and launching full-scale support for about 780 export SMEs facing logistics difficulties.

The logistics-only export voucher project is a newly established initiative to support international transportation costs for export SMEs in response to the recent shortage of maritime and air transport services and the continued rise in freight rates. It is not possible to apply for or receive support simultaneously with the logistics-only export voucher project separately announced by the Ministry of Trade, Industry and Energy (KOTRA).

The logistics-only voucher support is divided into two types. The general logistics support category covers international transportation costs such as maritime and air freight and insurance fees incurred during export. The long-term transportation contract support category assists SMEs with periodic and fixed export logistics plans to the North American West Coast in concluding long-term transportation contracts with national shipping companies (HMM).

The voucher issuance limit is applied differentially considering the scale of direct export performance in the previous year. Companies with direct export performance under 1 million USD can apply for voucher issuance for the required amount up to a maximum of 10 million KRW, and companies with 1 million USD or more can apply for up to 20 million KRW, in units of 1 million KRW. Applications for participation can be made on the logistics-only export voucher project website until the 13th.

Lee Sung-hee, Head of the Global Growth Division at SBC, said, "Recently, maritime and air export logistics costs have been continuously rising, and this trend is likely to persist for a long time, causing ongoing difficulties for export SMEs. SBC will do its best to help resolve logistics difficulties for export SMEs through prompt logistics cost support via the logistics-only export voucher project."

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