Government to foster small- & mid-sized companies as exportersUpdated: 2014-08-13 06:36:25 KST
If things pan out as the government hopes, some 10-thousand small and mid-sized companies will find new buyers overseas to more than double their sales in the next three years.
That, ministry officials say, will likely more than triple the number of workers employed by these companies.
They cited a report by the Korea International Trade Association, saying job growth at exporting companies is four times higher than those relying solely on the domestic market.
The trade ministry will designate scores of trading houses to help match the companies with foreign buyers.and develop a program to dispatch retired trading experts to help them utilize new export channels.
In a meeting with trade officials on Tuesday, President Park Geun-hye stressed the need for the government to provide support for the smaller companies that lack experience when they expand overseas.
"Small and mid-sized companies entering export markets are like people who are used to swimming in indoor pools challenging to swim in the ocean for the first time."
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The government will also take steps to make online commerce more profitable for them by streamlining online documentation procedures by the end of this month.
In addition, the government will set aside additional 1.6 billion U.S. dollars in soft loans to help these new exporters link up with overseas customers and provide better insurance arrangements to protect them from currency fluctuations.
Song Ji-sun, Arirang News.
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