Ministry of Trade, Industry and Energy Strengthens Customized Support to Resolve Difficulties for Export-Novice Companies

The Ministry of Trade, Industry and Energy will focus on intensive support for export-startup companies, particularly in new strategic markets such as India and the United Arab Emirates (UAE). It plans to actively support companies striving for market diversification through customized problem-solving measures.

The ministry announced that Kim Wanki, Director of the Trade and Investment Office, visited Brand New Machinery, located in Hwaseong, Gyeonggi Province, on the 5th to listen to on-site voices regarding export market diversification.

At the site, requests were made for ▲ strengthening product competitiveness through industrial complex settlement ▲ support for low-interest loans for export companies ▲ participation support for exhibitions and other overseas marketing activities.

Brand New Machinery is a materials, parts, and equipment company producing coating machines used in various fields such as hydrogen fuel cells and secondary batteries. Originally starting as a domestic company, it succeeded in direct exports to promising markets such as India and the UAE through steady efforts to pioneer overseas markets, following indirect exports to Vietnam. Since 2020, the Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA) have assigned export specialists to the company to provide consulting on target market setting and customized entry strategies for each market. They have also supported overseas marketing and the discovery of key buyers through branch office projects utilizing local trade offices in Dhaka and New Delhi.

Kim Wanki, Director of the Trade and Investment Office, who visited the company, said, "Export-startup companies often face difficulties due to a lack of information or experience necessary for entering new markets." He added, "We plan to actively support companies striving for market diversification through consulting with export specialists, local marketing and buyer discovery via overseas branch projects, and customized problem-solving using export vouchers."

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