On the 23rd, Exploring Solutions to Export Company Challenges with Gyeongnam Province
KOTRA held the 'Defense Industry Export Support Caravan' at the Gyeongnam Provincial Government Office on the 23rd, the agency announced on the 24th.
The event was held to explain defense export support policies to domestic defense companies and to seek solutions to their difficulties. This event, held for the second time this year following last year, was jointly hosted by the Ministry of Trade, Industry and Energy, KOTRA, and Gyeongnam Province. About 40 officials, including representatives from 13 defense companies, the Defense Acquisition Program Administration, and the Korea Trade Insurance Corporation, attended.
The Ministry of Trade, Industry and Energy shared the 'Measures to Strengthen the Competitiveness of the Defense Industry Ecosystem' announced at the Defense Industry Development Council on the 17th. The Defense Acquisition Program Administration presented the required documents for export permit requests of defense materials and precautions during export. The province introduced projects to revitalize exports of defense companies.
KOTRA introduced its project supporting defense materials, parts, and equipment companies to enter the global supply chain. It encouraged participation in the defense global partnering projects to be promoted in Busan and Gyeongnam in the second half of the year, as well as the Korea Defense & Security Export Consultation (KODAS). Improvements to the 'Defense Export Partner and Defense Company Exclusive Guarantee System,' jointly prepared by the Korea Trade Insurance Corporation and Shinhan, Woori, and Gyeongnam Banks, were also shared.
Lee Jae-sik, head of KOTRA’s Defense Materials Trade Support Center, said, "The event provided an opportunity to hear the voices of defense companies on the ground vividly, and we will strive to prioritize resolving their difficulties. We also plan to continue promoting the Defense Export Support Caravan in collaboration with local governments serving as defense industry hubs."
KOTRA plans to operate a defense export consultation booth at the '2024 Yi Sun-sin Defense Industry Exhibition' held in Changwon, Gyeongnam, from the 24th to the 27th. At the exhibition, a defense global partnering business consultation meeting will be held, along with an export finance consultation session in cooperation with Shinhan and Gyeongnam Banks.
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