Over 6,700 Companies Supported by Jungjingong Achieve Export Performance of 8.3 Billion USD

Export Value Increased by 24.3% Year-on-Year... Domestic Companies Achieve First Export Success at 30.3%

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 8th that it is actively supporting the creation of export performance for small and medium enterprises by operating various export support projects such as export vouchers, online export platforms, online exhibitions and consultations, export incubators, and support for air and maritime logistics costs.

From January to October this year, SBC supported more than 6,700 small and medium export companies. The export performance of these companies amounted to a total of 8.3 billion dollars. During the same period, the total export amount of all small and medium enterprises increased by 17.6% compared to the same period last year, while companies participating in SBC's export support projects increased by 24.3%, showing a performance 6.7 percentage points higher than the average growth rate of all small and medium enterprises.

In particular, 30.3% of domestic companies with no export performance succeeded in their first export, confirming with figures that SBC is providing practical help for small and medium enterprises to enter overseas markets despite the difficult domestic and international business environment caused by COVID-19. SBC supports various projects necessary for the entire export process from export preparation to overseas market entry.

The support amount for the export voucher project, which allows free selection and use of overseas marketing services, was expanded up to 100 million won, and support was provided to establish an online export base using GoBiz Korea. To expand non-face-to-face exports, video consultation (exhibition) meetings were held regularly, and information on e-commerce market trends in various countries around the world was also provided. A specialized program utilizing 20 overseas bases in 12 countries has also been introduced and is currently being operated.

Reflecting the voices of companies facing difficulties due to the logistics crisis, logistics-only export vouchers and support for air and maritime freight charges have also been started. Through collaboration with the national shipping company HMM, dedicated shipping space for small and medium enterprises has been secured on routes to the United States and Europe, supporting logistics totaling 97 times and 15,000 TEUs (1 TEU is one 20-foot container) since October last year.

Kim Hak-do, Chairman of SBC, said, "Despite the COVID-19 crisis, SBC actively operated various export projects and contributed to breaking the record of small and medium enterprise export amount of 105.2 billion dollars, the highest since statistics began," adding, "SBC will continue to be a reliable partner for export companies."