Support for Discovering Alternative Trading Partners for Ukrainian and Russian Export-Damaged Companies

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[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Kwon Chil-seung) and the Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 15th that they will support the discovery of alternative trading partners for export SMEs affected by the Ukraine crisis.

The target companies are those with an export ratio of 30% or more to Ukraine and Russia. SBC plans to identify export-affected SMEs and match them one-on-one with dedicated trade experts.

The experts will assess the status of the affected companies and their export products and assist them in registering on K-Biz Korea. Support for entering new markets will be provided through matching with overseas buyers registered on K-Biz Korea, focusing on the countries the companies wish to enter.

Chairman Kim Hak-do said, "SBC is actively supporting SMEs affected by the Ukraine crisis by promptly providing emergency management stabilization funds," adding, "In addition, SBC will also work on discovering alternative trading partners for export-affected companies so that export SMEs can pioneer new markets and resolve current export difficulties."

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