Seoul: The government will join hands with export-related agencies to provide "all-out" support to South Korean companies in export business, the industry ministry said Wednesday.
According to Yonhap News Agency, the Ministry of Trade, Industry and Energy held a joint conference in Seoul with various export-related agencies, including the Korea Customs Service, the Korean Intellectual Property Office, and the Korea Trade-Investment Promotion Agency (KOTRA), to discuss a comprehensive support package for export companies amid heightened global trade uncertainties.
In the conference, the ministry and related agencies unveiled the comprehensive support package, which includes an emergency system to assist companies in addressing tariff issues, consultations on business strategy, and other support measures. The government has devised support measures such as export vouchers for small and medium-sized enterprises and the largest-ever trade financing scheme, worth 366 trillion won (US$249.9 billion), to help local businesses navigate major economies' protectionist trade policies.
Industry Minister Ahn Duk-geun emphasized that even amid market condition shifts, South Korean companies could seize new export opportunities with competitive technologies and differentiated strategies. During his visit to the conference, he pledged to continue expanding support measures for export firms. Kang Kyung-sung, president and CEO of KOTRA, stated that the agency would make "all-out" efforts to support exports of Korean companies by "actively collaborating with export-related agencies and utilizing its domestic and overseas network."