Seoul: The government will allocate 61.1 billion won (US$42.1 million) in export vouchers to approximately 1,300 South Korean companies this year as part of an initiative to address global trade uncertainties, the industry ministry announced Thursday. The Ministry of Trade, Industry and Energy revealed that this year's allocation is a 9 percent increase from the 56.1 billion won provided last year.
According to Yonhap News Agency, the export vouchers are designed to support small and medium-sized enterprises (SMEs) by granting them access to around 7,200 export-related services. These services include business consultations and assistance in expanding and exploring overseas markets. The program aims to equip SMEs with the necessary tools to navigate the complexities of international trade.
Industry Minister Ahn Duk-geun expressed optimism about the potential of exporting SMEs to overcome the challenges posed by global trade uncertainties. He emphasized the importance of diversifying export items and destinations to mitigate risks and enhance competitiveness in the global market.