Busan City Supports Entry into Alibaba Online Platform

Opening Global Market Channels Through Borderless Online Trade

Busan City Hall exterior view. (Photo by Busan City Hall)

[Asia Economy Yeongnam Reporting Headquarters Reporter Yoon Yoseop] On the 20th, Busan City announced that it will support local small and medium-sized enterprises (SMEs) in securing global sales networks and strengthening online trade capabilities by helping them join Alibaba Group's online platform.

Since 2018, Busan City has been promoting a support project for local SMEs to enter the global online market by assisting their entry into Alibaba.com, the industry leader. In the second year of support last year, the export performance of 25 participating companies reached approximately $1.9 million, an increase of more than 20 times compared to the previous year.

In particular, most companies that participated for two consecutive years saw increases in buyer consultations and export performance. Based on these results, the city plans to continue support for the third consecutive year this year, selecting second- and third-year supported companies by evaluating export performance and store management capabilities, and will assist in expanding online market channels and extending business relationships.

Joining Alibaba.com as a paid member (Gold Supplier Member), supported by Busan City, requires comprehensive screening by Alibaba.com, including the company’s financial credit rating, product standard specifications, and financial statements, to grant entry qualifications. Buyers met at overseas exhibitions or consultation meetings can proceed with detailed consultations immediately without verification procedures such as company credit or export capabilities, effectively securing a key corporate credential.

This year, support will also be provided for entry into AliExpress, China’s largest open market affiliated with Alibaba Group. AliExpress currently covers over 230 countries and regions worldwide and is the largest overseas direct purchase site with more than 200 million monthly visitors.

Companies wishing to participate can apply through the Busan City Overseas Integrated Marketing System website by the 1st of next month.

Kim Hyun-jae, Director of Investment and Trade Division of Busan City, said, “The best solution to increase exports of local companies amid changing environments is to make maximum use of online markets,” adding, “We plan to actively support excellent local SMEs to strengthen promotion and expand export channels through globally influential online sales networks.”