Fast-Track Export Vouchers for Businesses Hit by Middle East Conflict

Companies facing export challenges due to the Middle East conflict now have an opportunity to swiftly participate in a government support program totaling 130 billion won. The export voucher support initiative is designed to address the uncertainties of the global trade environment and alleviate the burden on small and medium-sized enterprises (SMEs) engaged in exports.

The Ministry of SMEs and Startups will be recruiting participants for the 'Export Voucher Support Program' from April 17 to May 6. The total budget for this initiative is 130 billion won, comprising 80 billion won for general vouchers and 50 billion won for logistics-specific vouchers, with applications being accepted simultaneously for both.

A 'fast-track' system will be implemented, prioritizing companies affected by the conflict and waiving on-site evaluations, to decide support eligibility within a maximum of one month. Companies facing export disruptions in the Middle East will be given priority, and those in strategic sectors like petrochemicals, K-beauty, and K-fashion will receive bonus points during the evaluation process.

The support limit per company is up to 100 million won, depending on export volume, and additional preferential limits will be granted to companies diversifying export destinations, high-growth export companies, and those utilizing tech services.

The 50 billion won logistics-specific voucher program has expanded its eligibility to all SMEs with international transportation usage records. The 'fast-track' system, which replaces on-site evaluations with written assessments, has been fully adopted to shorten the selection period to within one month, and the post-voucher utilization settlement process has been simplified from four to three steps.

Son Han-guk, head of the Gyeongnam Small and Medium Business Administration, stated that the swift promotion of the export voucher program reflects the demand from export-oriented SMEs operating in an uncertain external environment.