Emergency Support Voucher for Middle East Situation Launched... Total Funding of 8 Billion Won Available

Applications Opened on March 11

Up to 150 Million Won per Company for Middle East Exporters and Affected Businesses

Applications have opened for emergency vouchers to support companies exporting to the Middle East and those affected by recent events in the region.

On March 16, the Korea Trade-Investment Promotion Agency (KOTRA) announced that, together with the Ministry of Trade, Industry and Energy, it began accepting applications for the Emergency Support Voucher for responding to the Middle East situation on March 11. To help participating companies understand the program and facilitate smooth applications, an online information session will be held on March 18 at 2:00 p.m.

The total budget for this emergency support voucher program is 8 billion won, and each company can receive up to 150 million won (with 50 to 70 percent covered by government funding). In addition, companies with significant export volumes to the Middle East, or with a high proportion of exports to the region, will be eligible for a fast-track review process, allowing them to learn the result of their application within three days.

This voucher program is focused on providing specialized services for the Middle East to help export companies overcome difficulties arising from the current situation in the region. In particular, to address shipping disruptions and increased freight charges and surcharges, several logistics service support items have been newly added to the voucher program, including: ▲export logistics return costs ▲war risk surcharges ▲logistics costs for rerouting to alternative destinations ▲demurrage charges incurred locally in the Middle East for export cargo.

On January 27, the Ministry of Trade, Industry and Energy and KOTRA selected 470 participant companies for the emergency support voucher program targeting firms facing trade challenges in the United States, Europe, and India. As difficulties for exporters have spread due to the situation in the Middle East, additional emergency vouchers will now be provided to small and medium-sized enterprises and mid-sized companies with export records to the Middle East from 2025 to the present.

Applications for this emergency voucher program will be accepted until March 31. At the information session on March 18, an overview of the export voucher program, application procedures, and information on services that can be utilized, including international transportation, will be provided.

Kang Kyungseong, President of KOTRA, stated, "Export companies related to the Middle East situation are experiencing difficulties such as logistics disruptions and soaring costs, communication challenges with buyers, and disruptions to marketing plans. In addition to expanding the logistics items covered by the emergency voucher, we will make every effort to resolve company difficulties and discover alternative markets by linking existing services and local trade centers."

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