BUSAN < invest Korea

(BUSAN = Newsis) The city of Busan and Busan Regional Office of the Small & Medium Business Corporation (SBC) will invite small and medium-sized enterprises (SMEs) to a program that supports companies’ establishment of overseas branches in a bid to support overseas expansion of SMEs.

The program, which uses 122 Korea Business Centers of Korea Trade-Investment Promotion Agenccy (KOTRA) in 84 nations as SME’s overseas branches, will help overseas expansion of SMES for one year through one-on-one supporting program that focuses on providing information of overseas markets, discovering exporting partners.

The city and SBC plan to invite 50 SMEs in the Busan area. Companies eligible to the program are those seek to expand their business abroad with less experience in export businesses.

The program fees (from KRW 2.5 million to KRW 3.5 million) are different from one KBC to another due to the size of the local market and price level. The SBC will support 50 percent of the fees (value-added tax not included) per SME.

Companies that use the program for the first time to expand overseas markets will receive support for up to 70 percent of the program fees, allowing them to advance into the global market at lower cost.

Applications can be submitted to the SBC’s website (www.sbc.or.kr).

heraid@newsis.com

Source Text

Source: Newsis (Mar. 13, 2014)

** This article was translated from the Korean.