–Announcement of small and medium-sized business export support project for 2012
-Support for G-Fair, foreign exhibitions, buyer invitation export counseling events

– Gyeonggi Province established a general foreign marketing plan for this year and revealed on January 3^rd that it plans to provide support worth KRW 10.3 billion, i.e., KRW 1 billion more than last year, to promote the exports of the province’s small and medium-sized businesses. (G-News Plus Heo Seon-ryang)

Gyeonggi Province announced a general foreign marketing plan and will provide support worth KRW 10.3 billion to promote the exports of small and medium-size businesses based in Gyeonggi Province.

While the economic environment is expected to be challenging this year, the province announced on January 3^rd that it will provide support worth 10.3 billion KRW, representing an increase of KRW 1 billion over last year, to overcome current economic difficulties by improving the productivity of small and medium-size businesses through export expansion, and thereby create more jobs.

The general foreign marketing plan announced 2012 includes the five core strategic goals of; actively targeting giant markets using FTAs; providing systematic support to train companies with decreasing exports; improving exports to lead the newly growing market; exploring new markets through the continuous hosting of G-Fair; and establishing a trade basis for small export companies.

The province expects that the Korea-EU and Korea-US FTAs will benefit the major industries of Gyeonggi Province including IT, electronics, and automotive parts. As such, the province plans to host export counseling events by inviting European and US buyers to participate in ten auspicious exhibitions in accordance with the general plan.

In particular, the province will select twenty excellent small and medium-size companies in the vehicle parts industry and provide exhibition counseling for local buyers by visiting US and German complete car companies, 1^stvendor company headquarters, and factories.

The province will also improve its network of seven Gyeonggi Business Centers (GBC) with a view to pioneering large new markets, discovering competitive products for rapidly growing emerging markets, and ultimately dispatching 7 trade promotion groups.

In October, the province will host the largest Korean product exhibition in the nation at Ilsan KINTEX so as to support exceptional small and medium-sized businesses in their efforts to find domestic and foreign sales pipelines. The same events will be held again in Tokyo and Mumbai in April and May, respectively.

Furthermore, the Gyeonggi Provincial Government will select fifteen of the province’s small and medium-sized companies that possess outstanding technologies but face difficulties in targeting foreign markets, and will actively support their efforts to target the US market through the company innovation program of the University of Texas.

For small export companies with inadequate export capacity, the province plans to establish a trade basis by supporting export insurance fees, assistance with the acquisition of foreign standard certifications, foreign market surveys, and trade business education.

The level of support for small and medium-sized export businesses will be raised as well.

Traditionally, KRW 5 million in support funds were provided to exporting companies when they participated in promising foreign exhibitions. However, this system will change and the province will support 60% of the exhibition booth rental fees, equipment fees, and a one-way transportation fees to further reduce the cost burden on these companies.

In addition, KRW 1 million had been provided to companies working to create foreign branches regardless of the region. However, a regionally categorized system will now be adopted to provide customized support.

Furthermore, the level of support for foreign exhibitions, trade promotion groups, and the electronic trade frontier company training projects has been raised from USD 10 million or less (2011) to USD 20 million or less in order to improve competitive export power.

In order to promote job creation, the province provides incentives including the award of additional points to exceptional companies when selecting businesses for foreign marketing support.

A provincial representative said, “We plan to strengthen the collaboration system with related institutes such as the Gyeonggi Small & Medium Business Center, the Korea International Trade Association Gyeonggi Regional Headquarters, and the Small and Medium-Business Corporation’s Gyeonggi Regional Headquarters in order to specialize in the export support business.”

-G-News Plus News | Lim Jeong-seon isim123@hanmail.net 

http://gnews.gg.go.kr/news/news_detail.asp?number=201201031017519731C052&s_code=C052