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According to Yonhap News,
Ministry of Trade, Industry and Energy (MOTIE) and Korea Trade and Investment Promotion Agency (KOTRA) are now looking for businesses to join a service, which aims to help international market expansion. An application must be complete to be accepted by the end of July.
The service is designed to pick and help highly competitive brands, particularly those releasing one of the worldwide top 5 best selling products by market share, or those with great potential to showcase the world’s best products within seven years from now on, find larger sales channels overseas.
Once selected, the service members are entitled to be accredited as brands that represent Korea and to be given a wide range of marketing and financial services from 10 national agencies including KOTRA.
Anyone interested in registration can send in application forms to KOTRA by Jul. 31. The statement of the results will be offered in October.
Picking up momentum when Korean quarantine model, or “K- quarantine” for short, developed in the course of tackling the novel virus pandemic, has become a successful response measure cited worldwide, MOTIE said it’s a great time to let the world learn more of the best products made in Korea. They’ve already rolled out a plan for marketing and branding K-products, making sure to mark a sign that identifies Korean origin. A list of cleaning and disinfection products such as diagnostic kits and protective clothing are reported to be selected as the “best products” by KOTRA and the ministry.
Valid period certified will extend to three years from one year, MOTIE added. The service, which started since 2001, has chosen nearly 817 world’s best products (917 makers) as of 2019, increasing the share of SMEs in the economy from 37.1 percent to 76.1 percent for the past 20 years.
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Source: Yonhap News (Jun. 17 , 2020)** This article was translated from Korean.