Gyeonggi Province will provide up to 50 million KRW to companies that may be affected by trade disputes, focusing on key export items to the United States such as automobiles, semiconductors, pharmaceuticals, steel, and aluminum.
On July 13, Gyeonggi Province announced that it will implement a 'Trade Crisis Response Package Support Project' to assist small and medium-sized enterprises (SMEs) in the province facing export crises due to the strengthening of protectionism under the second Trump administration.
The Trade Crisis Response Package Support Project will supply a total of 7 billion KRW to 900 SMEs in the province experiencing export crises. The support will be provided in three stages: market research and export consulting; individual and group participation in overseas exhibitions and overseas marketing agency services; and overseas certification and export logistics costs.
Gyeonggi Province will provide up to 50 million KRW to companies that may be affected by trade disputes, focusing on key export items to the United States such as automobiles, semiconductors, pharmaceuticals, steel, and aluminum. Provided by Gyeonggi Province
Depending on the stage, each company can receive between 5 million KRW and 15 million KRW, with the maximum support amount per company capped at 50 million KRW.
Applications for support can be submitted through 'Gyeonggi Business Secretary (EasyBiz)', and applicants can select all desired sub-projects within the integrated announcement. Companies will be selected through an expert evaluation that comprehensively considers the need for support and the crisis situation. Selected companies will receive practical assistance such as consulting or exhibition participation through matched support organizations.
Park Geungyun, Director General of International Cooperation at Gyeonggi Province, stated, "This support program was prepared to provide practical assistance to SMEs that are most vulnerable to changes in the external trade environment. We hope that large-scale support of up to 50 million KRW per company will help reduce damages and further provide substantial assistance in restoring competitiveness."
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