Gyeonggi-do Supports Companies Entering Overseas Water Markets... Up to 20 Million KRW in 3 Sectors

Gyeonggi-do Water Industry Support Information Poster

Gyeonggi Province will support 15 water-related companies in the province with up to 20 million KRW per company to help them enter overseas markets.

The Water Industry Support Center of the Gyeonggi Environment and Energy Promotion Agency is recruiting companies to participate in the ‘2024 Customized Overseas Expansion Support Project’ to assist local water companies in entering overseas markets.

The Gyeonggi Water Industry Support Center, operated by the Gyeonggi Environment and Energy Promotion Agency under consignment from Gyeonggi Province, is a specialized institution fostering the water industry in Gyeonggi Province. Since 2021, it has been conducting support projects targeting small and medium-sized enterprises (SMEs) and mid-sized companies in the early stages of overseas business discussions.

This year, the center is recruiting participating companies by the 14th of this month for three areas: ▲Overseas Expansion Field Survey Support Project ▲Consulting Support Project for Promising Export Water Companies ▲Participation Support for Gyeonggi Province Pavilion at the International Water Industry Expo (WATER KOREA).

First, the center is recruiting three companies for the ‘Overseas Expansion Field Survey Support Project,’ which supports direct costs incurred for local market research to export water treatment methods, equipment, and devices. Depending on company size, SMEs can receive support for up to 80% of total costs, and mid-sized companies up to 70%, with a maximum of 20 million KRW per company for field survey expenses. Eligible expenses include airfare, local transportation, interpretation and translation fees, expert consultation, test analysis fees, and prototype production costs.

The center is also recruiting two companies on a first-come, first-served basis to support various difficulties encountered during export, such as customs, trade, legal issues, ESG, trend analysis, and research, which are necessary for risk management for successful overseas expansion. Up to 5 million KRW per company will be supported, covering 90% of total costs.

The center will set up a Gyeonggi Province pavilion at the ‘2024 International Water Industry Expo (WATER KOREA)’ and is recruiting 10 companies to participate. Participating companies will receive support of up to 3 million KRW for booth and promotional expenses. Companies participating in the expo will also have priority access to overseas buyers and export consultation meetings through pre-registration for side events.

Meanwhile, since 2021, the center has promoted customized overseas expansion support projects for a total of 27 companies, achieving results such as pilot installations of water quality measurement systems at two sites, signing 11 memorandums of understanding (MOUs), obtaining two overseas certifications, and securing overseas contracts.