Seoul: The government has announced it will provide export vouchers valued at a total of 25 billion won (US$17.3 million) to small and midsized enterprises (SMEs) this year. This initiative is part of ongoing efforts to enhance South Korea's export capabilities, as stated by the industry ministry on Thursday.
According to Yonhap News Agency, these export vouchers will be distributed to 300 companies, with the aim of aiding them in expanding their market presence globally and strengthening their export competitiveness. The vouchers will encompass a range of services, including business consulting, assistance with participation in exhibitions, and support for international shipping.
The Ministry of Trade, Industry and Energy highlighted that Korean companies involved in last year's program achieved a record $14.7 billion in exports to their targeted markets. Park Duk-ryul, director general of midsized corporate policy at the ministry, emphasized the commitment to assisting medium-sized firms in evolving into export companies, despite uncertain trade conditions. Additionally, the ministry aims to extend further support to new and promising businesses.