Additional Recruitment of Participating Companies for the Air and Sea Freight Cost Compensation Project
Support for Air and Sea Freight Costs of E-commerce Companies... Additional Recruitment of 750 Companies
[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 30th that they will additionally recruit companies to participate in the 'Compensation Project for Air and Sea Freight Due to COVID-19' until the 10th of next month.
The recruitment scale is approximately 750 companies in total, with 500 companies for air freight and 250 companies for sea freight. Overlapping support for both air and sea freight is not allowed. Eligible companies are those engaged in e-commerce that incurred air transportation costs of 1 million KRW or more or sea transportation costs of 300,000 KRW or more from July to September this year.
Support will be provided differentially according to the amount of overseas air and sea shipping expenses used over the three months from July to September and the support ratio by section. Air freight support can be up to 5 million KRW, and sea freight support can be up to 2 million KRW. Applications can be submitted through the GoBizKorea website.
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Since last year, as the logistics crisis caused by rising air and sea freight has prolonged, the Ministry and SBC recruited 1,400 companies in the first round last April to alleviate logistics difficulties for online export SMEs. Chairman Kim Hak-do said, "As uncertainty in export logistics increases, SMEs targeting the year-end shopping season in the North American and European markets are advancing their export shipment schedules earlier than usual," adding, "SBC will strive to help our export companies maintain competitiveness in the global e-commerce market by reducing logistics costs."
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