The Ministry of SMEs and Startups said on Jul. 7 it will begin the third round of applications for export vouchers to support export-oriented small and midsize corporations struggling with the fallout from the weak won.
The Ministry of SMEs and Startups (MSS) plans to support about 1,200 corporations with a budget of 47 billion won. It will also allow additional limits for corporations among existing export voucher participants that have suffered damage from the weak won.
The cap on trade insurance premium support will also be temporarily raised from 10 million won to 20 million won. The plan is to prepare for external instability such as exchange-rate fluctuations and to support the fulfillment of existing export contracts and the securing of new orders.
The Ministry of SMEs and Startups (MSS) plans to ensure that corporations facing increased management burdens can benefit, as this notice is expected to be the last export voucher recruitment of the year. It will operate the program so that support with a strong on-the-ground impact is provided, taking into account follow-up demand from existing participating corporations.
Applications can be submitted online on the export voucher website starting Jul. 8.
Sim Jae-yun, director-general for global growth policy at the Ministry of SMEs and Startups (MSS), said, "This additional notice is a measure to quickly support the corporations in greatest need on the ground," adding, "In particular, as this is the last notice of the year, we will carefully ensure that corporations in real need do not miss the opportunity."