To activate SMEs' online exports, SMBA will support their registrations with global B2B sites, like Alibaba, Global Sources, etc. This project will provide support of up to three million won for SMEs with an annual export amount of less than US$5 million.
An SMBA screening committee conducted documentary assessment of export competitiveness and management capability of 566 SMEs that had filed applications with 11 SME Export Support Centers nationwide and finally selected 200 target SMEs for the program.
After preparation of an online export activation plan on September 1 in order for SMEs to adapt themselves to new export environmental changes, SMBA concluded an MOU with the world's largest B2B site, Alibaba, on September 10 and held online export explanatory sessions (six times in September and October, attracting about 2,000 participants), while also implementing export expert education programs (15 times October to December for 500 participants).
According to the SMBA-Korea Eximbank MOU concluded on October 15 this year, SMEs can receive consulting services on preferential treatment in special export-financing credit loan and exchange risk management as well.
SMBA Director for Overseas Markets Kim Young-Tae said, "Online exports, which have advantages of a low-cost export structure, publicity to potential buyers of company products, overcoming time and place restrictions, will become a prerequisite, not an option, for SMEs."
He revealed, "SMBA will continue to promote online exportation by SMEs with linkage to employment of online export-specialized manpower, support for social network marketing, etc."