The Ministry of SMEs and Startups said on the 15th it will push a total 130 billion won export voucher support program to ease logistics cost burdens for export-oriented small and midsize companies, as uncertainty in the global trade environment grows amid the prolonged conflict in the Middle East and changes in U.S. tariff policy.
Recently, the Shanghai Containerized Freight Index (SCFI) has risen for seven straight weeks, and rates on Middle East routes have surged to $4,167 per TEU, sharply increasing maritime logistics costs and expanding the need to support small and midsize companies.
The Ministry of SMEs and Startups (MSS) will first support about 2,300 companies through a 80 billion won general export voucher. In particular, corporations experiencing export disruptions due to the Middle East conflict will be selected first to support market diversification.
In addition, strategic consumer goods corporations such as those in the petrochemical sector and K-beauty and K-fashion will receive extra points in the evaluation. The support limit per corporation is up to 100 million won depending on export scale, and additional preferences will apply to corporations diversifying export destinations, high-growth corporations, and corporations using tech services.
To ease logistics cost burdens, a separate 50 billion won logistics-only voucher will also be injected. The eligible pool has been expanded from mainly Middle East routes to all small and midsize companies with records of using international transport.
The support items have also been expanded to include not only sea and air freight and insurance premiums, but also free sample shipping costs at buyer request, fulfillment service expense, overseas warehouse rent, and pre-shipment inspection fees. Corporations already selected for the export voucher program can additionally apply for the logistics-only voucher.
To speed up support, the selection process will be streamlined. By skipping on-site evaluations and introducing a paperwork-centered "fast track," the selection period, which used to take more than three months, will be shortened to within one month. After voucher use, the settlement process will also be reduced from the current four steps to three.
Applications will be accepted starting on the 17th through the export voucher website.
Im Dong-woo, acting director for global growth policy at the Ministry of SMEs and Startups (MSS), said, "This program will go beyond simple expense support to serve as an export safety net that protects corporations from global risks," adding, "We will actively support maintaining the export momentum of small and midsize companies even amid an uncertain external environment."