Seongnam City in Gyeonggi Province will provide up to 5 million KRW to small and medium-sized enterprises (SMEs) in the city that participate individually in overseas exhibitions in the first half of this year.
On the 8th, Seongnam City announced that it will support nine companies by April 19 and is accepting applications from companies wishing to receive support for individual participation in overseas exhibitions.
The application target is SMEs that participate individually in overseas exhibitions held abroad in the first half of the year without support from other organizations.
Companies must have their headquarters or factories in Seongnam City, and their export performance last year must be 10 million USD (approximately 13 billion KRW) or less.
Seongnam City selects supported companies by evaluating past support frequency for the same project, export potential, and export performance. Selected companies receive support for booth rental fees, basic installation costs, and online exhibition participation fees.
After participating in the overseas exhibition, companies claim the support funds from Seongnam City, which are paid retrospectively.
Last year, Seongnam City also provided subsidies totaling 129 million KRW to 29 companies that individually participated in overseas exhibitions.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
