Ministry of SMEs and Startups Recruits Companies for 'Export Knock'... Fostering 300 Promising Small Businesses

‘Soochul Doodream Companies’ Recruitment Until October 1
Voucher Priority Selection, Mentoring, and Exclusive Pavilion Support Provided

[Asia Economy Reporter Kim Heeyoon] The Ministry of SMEs and Startups announced on the 12th that it is recruiting 'Export Do-Dream (Do-Dream) Companies' to foster promising small business owners with high future export potential.

The name 'Export Do-Dream Company' carries the meaning of 'starting and promoting' exports and 'achieving dreams' through exports. It also implies the intention to support small business owners with small export volumes but high growth potential to expand overseas.

Last year, small business owners' export amount was $9.3 billion, accounting for 9.2% of the SME export amount of $100.8 billion. Accordingly, the Ministry of SMEs and Startups has established a specialized support system for small business owners, similar to support programs targeting promising export SMEs and global hidden champions.

The evaluation of 'Export Do-Dream Companies' involves the Small and Medium Business Corporation, the Small Enterprise and Market Service, and the Korea Trade-Investment Promotion Agency (KOTRA). They assess based on common criteria such as ▲export foundation including product differentiation ▲export potential including marketing capabilities and export success likelihood ▲sustainability including new service development ▲common export competencies such as sales and exports.

Subsequently, each regional SME office selects the Export Do-Dream Companies by region. Selected companies receive various services from the Ministry of SMEs and Startups, including funding, guarantees, marketing, consulting, and online support.

Selected companies are supported by linking the Small Enterprise and Market Service's innovative small business funds with guarantees from regional credit guarantee foundations. Additionally, they are given priority selection for KOTRA's buyer consultation meetings and online/offline export marketing using overseas trade centers, as well as the Small and Medium Business Corporation's export voucher program.

Moreover, the Small Enterprise and Market Service provides consulting for small business owners facing difficulties in overseas expansion, and KOTRA offers one-on-one export mentoring with trade experts.

Furthermore, the Ministry of SMEs and Startups plans to establish an online exhibition hall dedicated to small business owners on GoBiz Korea, a B2B online export platform, and assist them in entering overseas online malls such as Amazon and Rakuten.

The application period is from the 13th of this month until the 1st of next month.

Kang Gisung, Director of the Global Growth Policy Division at the Ministry of SMEs and Startups, said, "Through the designation of Export Do-Dream Companies, we plan to provide more systematic support to promising small business owners with high export potential, so we ask for active participation from small business owners who wish to export."

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