CE(EU), NMPA(China), ISO and Other Essential Certification Fees Supported up to 70%
"Export Catalyst for SMEs and Mid-sized Companies in the Materials, Parts, Equipment, and Consumer Goods Sectors"
[Asia Economy Reporter Moon Chaeseok] KOTRA announced on the 20th that it will conduct additional recruitment of companies participating in the export voucher program and provide an additional 2 billion KRW in government funds to small and medium-sized enterprises (SMEs) and mid-sized companies acquiring overseas certification standards. As part of the government's 'Export Competitiveness Enhancement Strategy' announced last month, KOTRA has been issuing vouchers called 'Export Plus' to companies since the 14th.
The main point is to support the costs of acquiring 411 product and system certifications essential for export, such as CE (EU), NMPA (China), and ISO. It supports SMEs and mid-sized companies in the materials, parts, equipment, and consumer goods sectors.
According to an urgent online survey conducted by KOTRA from the 11th of last month for a week targeting exporting SMEs and mid-sized companies, 63% of respondents cited 'costs required for certification acquisition' as the biggest difficulty. Lack of information (13%), complicated procedures (12%), and long processing times (7%) were also cited as challenges in acquiring overseas certification. Therefore, KOTRA explained that it decided to actively address the difficulties of overseas certification acquisition for SMEs and mid-sized companies through the export voucher program.
Selected materials, parts, and equipment companies in the export voucher program can receive support for up to 70% of certification acquisition costs with vouchers worth up to 100 million KRW, and consumer goods companies up to 55 million KRW. Certification fees, testing fees, and audit fees can be supported.
For certifications acquired after February 1st, if the required supporting documents are prepared, settlement applications can be made immediately upon selection. Applications can be submitted without limit on the number of times within the support limit.
Yoo Jung-yeol, President of KOTRA, said, "Overseas certification is the first hurdle that export companies must overcome to enter overseas markets," adding, "Although exports face a challenging situation in the second half of the year, the export voucher will play a role as a catalyst by supporting Korean companies in acquiring overseas certification."
Additional recruitment for companies participating in the export voucher program has been open for continuous application since the 14th. Detailed information is available on the export voucher website.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
