The Ministry of SMEs and Startups said on the 24th that it held a roundtable with related corporations on the topic of online exports by small and medium-sized enterprises.
At the roundtable, export corporations based on K-culture in beauty, fashion, food, and lifestyle, as well as global platform companies such as Amazon, Shopee Korea, and Olive Young, and logistics corporations attended and shared the difficulties on the ground. They then discussed policy alternatives to boost online exports.
Participants offered a range of opinions on the globalization of domestic platforms, mutually beneficial cooperation with global platforms, and ways to identify and support promising online export items. In particular, easing the burden of logistics costs and preparing countermeasures following the abolition of the United States' de minimis system, which exempts packages valued at $800 or less from tariff, were cited as urgent tasks.
Minister Han Seong-suk of the ministry said, "The online market does not have high entry barriers or risks, so it is a very useful means of entering overseas markets for small and medium-sized corporations seeking new markets or customers," adding, "Going forward, we will prepare and implement comprehensive support measures on multiple fronts so that our small and medium-sized corporations can expand the K economic territory through online channels."
Meanwhile, the ministry plans to soon draw up and announce the "plan to boost online exports by small and medium-sized enterprises," reflecting opinions from this roundtable.