Bang Gi-seon, Deputy Minister of Economy and Finance, "Next Month to Announce Support Measures for Exporting SMEs"

Emergency Economic Vice Minister Meeting Held... "This Winter's Temperature Lower Than Usual, Strong Energy Saving Measures Needed"

[Asia Economy Sejong=Reporter Kwon Haeyoung] The government will announce the 'Support Measures for Exporting Small and Medium Enterprises (SMEs)' next month. To reduce energy imports, a major cause of the worsening trade balance, an energy-saving campaign involving the public sector and the entire population will be conducted, and public service advertisements promoting energy conservation will be broadcast through terrestrial and comprehensive programming channels.

Bang Giseon, First Vice Minister of the Ministry of Economy and Finance, held the 11th Emergency Economic Vice Ministers' Meeting at the Government Seoul Office on the 4th and stated, "Exports to China, which accounts for the largest share among the top 10 export countries for SMEs, are declining."

He added, "Considering that overall exports to China decreased by 15.7% in October, the slowdown in SME exports is expected to continue," and said, "We will identify difficulties faced by companies and prepare and announce support measures for exporting SMEs by December."

The government will also promote support for overseas market development at each stage, discover export-leading models in the online sector where SMEs have a large export share, and support expanding overseas sales channels through entry into local shopping malls in consumer goods sectors such as beauty, food, and living.

Efforts to reduce energy imports, one of the main causes of the worsening trade balance, will also be pursued.

Vice Minister Bang said, "With energy imports still at a high level and the overall export trend weakening, it is unlikely that the trade balance will return to surplus in the near term," adding, "Since this winter's temperatures are likely to be lower than usual, stronger energy-saving efforts are necessary." He continued, "We will conduct comprehensive promotions to spread the energy-saving atmosphere, including broadcasting energy-saving public service advertisements on 17 terrestrial and comprehensive programming media outlets and posting promotional posters at over 60 major stations nationwide," and urged, "We ask for the active participation of all citizens."

The public sector aims to reduce energy consumption by 10%, limiting the average indoor temperature to 17 degrees Celsius and turning off more than 30% of indoor lighting.

Additionally, regarding the activation of overseas infrastructure orders, Vice Minister Bang stated, "We will form a joint public-private overseas construction order support team by the end of the year to systematically prepare and implement entry strategies for key regions in the future," and added, "To enhance corporate capabilities in high value-added fields such as project management (PM) and design, we will improve the public construction ordering environment, expand policy financing, and promote private infrastructure financial investment."

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