Gyeonggi Province will provide up to 3 million won in logistics cost support for export companies.
On August 5, Gyeonggi Province announced that it will be recruiting companies to participate in the third round of its logistics cost support program until August 8. This initiative aims to alleviate the logistics cost burden for export companies in the province and enhance the price competitiveness of their products, as the rapidly changing external trade environment has increased export burdens for small and medium-sized enterprises (SMEs).
From January to July this year, Gyeonggi Province will select and support 100 companies among those that reported exports and directly bore export logistics costs.
Eligible applicants are manufacturing SMEs headquartered or with factories located in Gyeonggi Province, whose direct export volume last year was 20 million dollars or less.
The program will cover up to 70% of logistics costs incurred in export transactions?including international freight, domestic and overseas warehouse fees, and inland transportation fees?up to a maximum of 3 million won per company.
Companies wishing to apply for logistics cost support must submit the required documents, such as a business registration certificate and export performance certificate, along with the application form, via the Gyeonggi Business Secretary website (www.egbiz.or.kr) by August 8.
Park Kyungseo, Director of International Trade at Gyeonggi Province, stated, "With this additional budget allocation, we are able to expand logistics cost support to further secure the price competitiveness of export SME products in the province and significantly ease the export burden on companies. Gyeonggi Province will continue to provide ongoing support so that local SMEs do not feel burdened when exporting."
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