JEOLLABUK-DO < invest Korea

A project to provide small- and medium-sized enterprises (SMEs) with a subsidy in relation to international express mail services has contributed to revitalizing the local economy.

North Jeolla Province achieved export effects worth KRW 11 billion, thanks to 191 SMEs that have well utilized the subsidy system.

The Korea Post has been implementing the project since 2008 to strengthen the competitiveness of local SMEs in exports. As the provincial government and the Korea Post provide 30 percent and 15 percent discounts, respectively, SMEs can pay 45 percent less for international express mail services. The Korea Post directly collects merchandise to be sent overseas and offers additional services free of charge.

The provincial government plans to secure a budget of KRW 150 million for the project this year.

“Export companies are in trouble due to prolonged economic recessions and severe fluctuations in foreign exchange rates. We will do our utmost to help SMEs export without any difficulties,” a provincial official said.

Source: Newsis (Mar. 21, 2013)

** This article was translated from the Korean.