Gyeonggi-do Invests 21.8 Billion Won to Support Over 15,000 Companies

Gyeonggi Provincial Government Gwanggyo New Office Building

Gyeonggi Province will invest 21.8 billion KRW this year to strengthen the competitiveness of export companies and support 15,092 export companies within the province.

First, in the area of export infrastructure development, the Gyeonggi Business & Science Accelerator (GBSA) will add 2 new hub centers and 5 digital centers to the 'Gyeonggi Business Center' (GBC) it operates, pioneering new overseas sales channels and promoting overseas marketing using online platforms.

The Gyeonggi Business Center currently has offices in 12 locations worldwide, including Los Angeles, USA, and Mumbai, India.

Additionally, the Gyeonggi FTA Utilization Support Center will be upgraded to the 'Gyeonggi FTA Trade Promotion Center' to provide customized support for trade regulations. Furthermore, 3.5 billion KRW will be invested in the construction of the 3rd exhibition hall at KINTEX in Goyang and the discovery of new exhibitions to promote visits by overseas buyers.

In the area of export capacity enhancement, tailored export preparation will be systematically supported for 11,489 companies through SOS support and mentoring for beginner exporters. In particular, 6,835 of these companies will receive support for carbon neutrality education and consulting, as well as participation in eco-friendly product export consultation meetings.

In the domestic and international marketing support sector, offline exhibitions and export consultation meetings will be expanded following the easing of COVID-19. To this end, marketing support will be provided to 3,523 companies, including the excellent product exhibition 'G-FAIR' and dispatching trade promotion teams to 14 countries.

Starting with India in June, online roadshows will be held in Vietnam and Malaysia, followed by the 'G-FAIR ASEAN Plus' exhibition in Thailand in July.

Lee Hee-jun, Director of the Economic Investment Office of the province, stated, "We will fully support companies to respond to changes in the trade environment such as the global economic crisis and non-tariff barriers, helping them overcome trade deficits."

Meanwhile, as of 2021, export companies in the province numbered 33,983, the highest among all metropolitan cities and provinces nationwide, accounting for 33.9% of the total in South Korea.