Vice Minister Ki Jae: "Full Effort to Resolve Export SME Logistics Issues... Reflected in Next Year's Budget Proposal"

[Asia Economy Sejong=Reporter Kim Hyewon] Choi Sang-dae, the 2nd Vice Minister of the Ministry of Economy and Finance, held a meeting on export logistics support with six export-oriented small and medium-sized enterprises (SMEs) at the Korea Eximbank on the 12th to explore response and support measures.

Vice Minister Choi said, "As of July, maritime and air freight rates have increased more than threefold compared to 2020, continuously increasing the logistics burden on export SMEs," adding, "The government is making every effort to alleviate the burden by supporting logistics costs, expanding dedicated shipping space for small and medium consignors, and supporting online export SME fulfillment."

The government is providing 'logistics-dedicated export vouchers' in response to the shortage of maritime and air transport services and the continued rise in freight rates intensified after COVID-19. This project supports SMEs that apply for logistics vouchers by covering up to 70% of logistics expenses, with a maximum of 14 million KRW per company.

Additionally, to resolve export difficulties caused by the international logistics crisis, the government urgently allocated 10.9 billion KRW in the supplementary budget last year to support logistics costs for a total of 1,080 companies. This year's budget has been increased to 11.9 billion KRW.

The SMEs attending the meeting expressed opinions such as support for financial policy funds, additional logistics cost support, and deregulation related to exports. In response, Vice Minister Choi promised, "The government needs to take the lead in fostering SMEs to maintain export growth and develop into excellent companies leading the global market," and added, "We will actively work with related organizations to ensure that various opinions on resolving logistics difficulties are promptly reflected in next year's budget and policies."