[Asia Economy Reporter Donghyun Choi] The Ministry of SMEs and Startups announced on the 11th that it will conduct an integrated announcement of the '2023 SME Export Support Project' worth 229.2 billion KRW.
This year's export support projects consist of nine programs including export marketing, global local expansion, and SME specialized projects. The scale has increased by 6.6% compared to 2022 (215 billion KRW), reaching 229.2 billion KRW.
This year, the ministry will focus on supporting companies entering new countries through new methods different from before.
When selecting target companies for support, not only export customs clearance performance of products but also service exports and indirect export performance will be evaluated equally. A new 'export country diversification index' (20% weight) has been established to provide more opportunities to companies challenging countries they have not yet entered, restructuring the export support direction.
The 'Export Voucher' project, which supports services such as design development and promotion/advertising necessary for overseas expansion in a menu-style format, will be operated in integration with the export excellent company designation system.
The existing designation systems for Global Small Giants, Promising Export SMEs, and Export Dream Companies will be reorganized into the 'Global Small Giants 1000+ Project' and recruited simultaneously with the Export Voucher. If finally selected, the Export Voucher will be automatically supported.
From this year, the Export Voucher plans to support service export companies such as content and software for more than 15% of all companies. For domestic companies with high export success potential, the support limit will be expanded from the existing 30 million KRW to double, 60 million KRW.
The 'Export Consortium' project, where SMEs in the same or similar industries form consortia to participate in exhibitions and consultation meetings, will be organized focusing on growing new markets such as Asia, the Middle East, and Europe. Overseas exhibitions for new industries and new technologies will also be expanded.
The 'E-commerce Export Market Support' project supporting online exports will provide package-type services including entry into global shopping malls such as Amazon, Shopee, and Qoo10, marketing, and delivery.
In addition, information about export support projects can be found on the Export Support Center website and each project’s website (attached).
Minister Lee Young of the Ministry of SMEs and Startups stated, "We plan to discover potential global small giants to foster export SMEs resilient to crises and strengthen linkage with support projects such as the Export Voucher. To mitigate risks due to changes in external conditions, we will also focus on export country diversification and service export support to enhance SMEs' overseas expansion capabilities."
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