The Gyeonggi-do Economic Science Promotion Agency is launching an export logistics cost support project for companies in the Icheon area.
On the 6th, the agency announced that it will provide additional export logistics cost support in the second half of the year for export companies in Icheon City struggling due to the prolonged trade crisis caused by the surge in international maritime freight rates. This project was first initiated last year as a specialized project for cities and counties.
The support targets small and medium-sized export manufacturing companies with headquarters or factories located in Icheon City. Selected companies will receive support of up to 3 million KRW per company, covering up to 70% of export logistics costs (domestic and international transportation costs) and sample shipping costs incurred since January of this year.
Within the support limit, there is no restriction on the number of applications, allowing companies to continuously benefit from the support.
In the first half of this year, the agency supported 13 export companies in the Icheon area. In the second half, an additional 11 companies will be supported.
Jung Kwang-yong, Head of the Balanced Opportunity Division at the agency, stated, "This support project will significantly help reduce the logistics cost burden for export companies in Icheon City and enhance their competitiveness in the global market. We will continue to implement various support projects to promote the growth of local companies."
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