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Supporting In-depth Overseas Market Surveys for SMEs   

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SMBA, jointly with the Small & medium Business Corporation (SBC), plans to support in-depth market surveys of target markets for those enterprises selected for the 'Export SME 500 Program.'

Under the plan, market survey-specialized agencies will comprehensively analyze target market scales, consumer trends, product specifications of competitor companies, product viability of domestic SME products, buyer lists and results of inquiries and establish detailed implementation plans required for advance into related markets as well as diagnosis of market advancement possibilities.

This year, the second year of the program, SMBA customized the plan by region and item and selected 21 market surveyspecialized agencies. In response to diverse corporate market survey demands, SMBA added industry-related event information, including exhibitions, product localization strategy, advertisement strategy, etc.

After designating KOTRA, which has 99 local networks in 72 countries, in particular, as a new survey agency, SMBA strengthened the level of survey agencies further by excluding those that had poor performance results last year after appraisal.

Director Kim Yoo-Sook of SMBA’s Overseas Marketing Division said, "The in-depth market survey is playing a major role in driving the growth of those export SMEs (US$1 million or less) that have weak in-house market survey functions by providing them with establishment of target markets, specific strategies and roadmaps."

The ‘Export SME 500 Program’ is designed to nurture promising SMEs with US$1 million or less in exports, but which have technological and business potential into SMEs with US$5 million or more in exports by 2012 through support of in-depth market surveys, certification of standards, participation in exhibitions, etc. SME targets by year: 100 companies ('09)→ 200 ('10)→ 350 ('11)→500 ('12).

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