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Daegu to Subsidy Logistic Costs for Local SMEs

(DAEGU = Newsis) The city of Daegu will push ahead its plan to subsidy international logistic costs of the local small and medium-sized enterprises (SMEs) in a bid to strengthen the companies’ competitive edge on exporting.

The project is joined by the Korea International Trade Association and the Gyeongbuk branch of Korea Post, and it aims to provide support for local SMEs, which suffered from the reduction of quantitative easing by the United States and low yen phenomenon.

Local exporting SMEs will be provided KRW two million (up to KRW 500,000 every month) annually for their logistic costs.

The Gyeongbuk branch of Korea Post will give a 13 percent discount off the price of EMS. If the postal matter is attached export declaration form, the city will provide another 20 percent discount on the postal charges.

Application is open year-round, and companies can refer to the websites of the KITA and Korea Post Gyeongbuk Branch.

“We expect that the program will provide a great deal of support for the local exporting SMEs to strengthen their competitiveness in exports,” said a city official. “We also plan to prepare more support projects to help the local SMEs increase their exports.”

Source Text

Source: Newsis (Feb. 16, 2014)

** This article was translated from the Korean.