Vice Minister Im Kikun: "Export Voucher Review for Overseas Expansion to Be Shortened to One Month"

Visited construction machinery manufacturer on April 27 to review program progress

Related budget increased by 100 billion won through supplementary budget

"Prompt support for SMEs will be provided"

A fast-track review system will be introduced to the export voucher program, which supports small and medium-sized enterprises (SMEs) in expanding overseas.

Gi-Geun Lim, Vice Minister of the Ministry of Strategy and Finance. Ministry of Strategy and Finance

On April 27, Im Kikun, Vice Minister of the Ministry of Planning and Budget, visited Daemo Engineering, a construction machinery manufacturer located in Siheung, Gyeonggi Province, to review the progress of the export voucher support program and to discuss on-site challenges and ways to enhance support.

The export voucher program is a system that comprehensively supports SMEs with the services needed to expand overseas, ranging from design development to logistics and marketing, in order to strengthen their international competitiveness. As geopolitical instability in the Middle East has recently persisted, leading to rising international oil prices and logistics disruptions, the government has focused on alleviating practical difficulties faced by companies by swiftly providing support, such as through the newly established "Middle East Specialized Emergency Logistics Voucher."

The government also significantly increased the export voucher support budget by 100 billion won, based on the "2026 Supplementary Budget" that was approved and finalized by the National Assembly on April 10.

Vice Minister Im stated, "The government is swiftly executing the existing export voucher program so that the effects of fiscal support are quickly delivered on the ground. We have also enhanced the effectiveness of our policies by incorporating on-site challenges into the 'Middle East Specialized Emergency Logistics Voucher,' newly adding support items such as Middle East detour transportation costs, return shipping fees, and demurrage charges."

He further emphasized, "With the significant budget expansion through the supplementary budget, we will introduce a fast-track review system that finalizes beneficiary selection within one month of application, enabling prompt support."

The export support infrastructure program reviewed during this visit amounts to a total of 250.2 billion won (including the supplementary budget), with high corporate demand evident, as approximately 7,050 companies applied immediately after the first recruitment announcement. As of the end of April, about 80% of the original budget of 150.2 billion won had been executed, and including the 100 billion won secured through the supplementary budget, up to 10,900 companies are planned to be supported by the end of the year.

At the on-site meeting, increased logistics costs due to logistics disruptions and rising shipping rates, as well as additional costs from transportation delays and contract issues, were raised as major challenges. In particular, participants noted that new expenses such as Middle East detour transportation costs and return shipping fees have arisen, making it difficult to respond with existing support alone.

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