Integrated Announcement for SME Export Support Projects
Export Voucher, E-commerce Export, Certification Acquisition, etc.
The Ministry of SMEs and Startups supports the overseas expansion of small and medium-sized enterprises (SMEs).
On the 11th, the Ministry announced the launch of the “2024 Integrated Announcement for SME Export Support Projects” with a total budget of 221.9 billion KRW.
The 2024 SME Export Support Projects consist of seven programs, including export vouchers, e-commerce export market entry, and Global Business Centers, designed to comprehensively support SMEs from online and offline exports to local market entry.
Specifically, the export support projects first provide ‘export vouchers’ to ensure SMEs receive timely support for various export marketing services. Following last year, this year’s plan also encourages diversification of export countries and new exports by excellent domestic companies.
Next, through the ‘Export Consortium’ project, SMEs are supported to participate in overseas exhibitions and export consultation meetings to meet buyers directly. The budget for the ‘Export Consortium’ has increased by 1.74 billion KRW compared to last year. In particular, to enhance support effectiveness, export consultation meetings linked to international events such as the upcoming APEC SME Ministerial Meeting are planned.
The ‘Large-Small Business Joint Overseas Expansion’ project will also be promoted to supplement the lack of overseas infrastructure and networks for SMEs through cooperation with large corporations and public institutions.
Support will also be provided to respond to changes in the external environment. Considering the steady growth of the e-commerce market despite difficult export conditions last year, the ‘E-commerce Export Market Entry’ project, which supports entry into global online shopping malls, will be expanded.
This year, support will be provided not only for entry into existing major online shopping platforms such as Amazon, Shopee, and Qoo10 but also for discovering and supporting entry into platforms in emerging markets such as the Middle East and India.
Through the ‘Overseas Standard Certification Acquisition Support’ project, the Ministry will also strengthen SMEs’ capacity to respond to the global trend of tightening regulations. Acquiring overseas certification is a major challenge for SMEs when entering export markets.
The Ministry will also support SMEs’ local settlement. Through the ‘Global Business Centers’ operating in 21 locations across 13 countries worldwide, specialized programs and office spaces will be provided to SMEs entering local markets. In the second half of this year, the Jakarta Global Business Center in Indonesia is scheduled to open.
Choi Won-young, Director of Global Growth Policy at the Ministry of SMEs and Startups, said, “For SMEs to grow to the next level, entering global markets including exports is crucial,” adding, “We will ensure the smooth implementation of SME export support projects to continue the export improvement trend that started last year.”
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