Recruitment of Companies for Export Localization and Specialization Programs

Support for 100 Companies in K-Quarantine and Future Growth Sectors... Overseas Base Announcements Starting in April

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Kwon Chil-seung, hereinafter referred to as the Ministry) and the Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 11th that they will promote SME export localization and specialization programs in collaboration with global specialized institutions.

SBC operates specialized programs targeting six countries with a high export ratio for domestic companies: the United States, Germany, Japan, China, Vietnam, and the UAE. They are recruiting 100 SMEs in future growth sectors such as K-quarantine, future cars, and materials, parts, and equipment, providing support of up to 60 million KRW per company. The budget for this year is 3 billion KRW.

At the export incubator operated by SBC, local specialized institutions with expertise in country-specific specialized fields will be identified, and together with these institutions, customized support will be provided from the initial stage of export products to the global market launch stage. The export localization support project targets bio-health such as U.S. K-quarantine, German future car parts and materials, and Japanese materials, parts, and equipment sectors, supporting the entire process including local testing reflecting buyer demand, product improvement feedback, new product launches, and buyer matching to help successful entry into local markets. The specialization support project assists entry into global online and offline distribution networks, specialized marketing of promising consumer goods, and localization of standards and certifications in China, Vietnam, and the UAE regions.

Individual announcements will be made at overseas bases starting in April. Information on applying for the project can be found on GoBiz Korea, and detailed inquiries can be made to SBC’s Global Business Division. Lee Seong-hee, head of SBC’s Global Growth Headquarters, stated, "Last year, through the K-Non-face-to-face and O2O-linked export support projects, SBC supported 1,050 export SMEs facing difficulties in overseas business trips due to COVID-19," adding, "We will present a new paradigm for overseas market entry by providing customized specialized programs utilizing the export incubator and local specialized institutions."