The Ministry of SMEs and Startups and the Korea SMEs and Startups Agency (KOSME) will subsidize post office international logistics service expense to ease international logistics costs for small exporting corporations. On top of post office discounts, government support will allow corporations to use international express mail service (EMS) and other services at prices lower than the regular rate.
The Ministry of SMEs and Startups (MSS) and the Korea SMEs and Startups Agency (KOSME) said they will recruit small corporations to participate in the "Post Office International Logistics Support Program" through Sept. 9.
Eligible applicants are small corporations with export performance of $10,000 or more that are using or plan to use the post office's export logistics services. The program supports the expense of using international postal services such as international express mail service (EMS), EMS Premium, K-Packet, and small packets.
Selected corporations can receive up to 40% off the regular rate when using international logistics services through the post office. In addition, the Korea SMEs and Startups Agency (KOSME) will provide up to 30% of the pre-discount regular rate. K-Packet and small packets are discounted by up to 20% off the regular rate.
The support period runs from the selection date through the end of December this year. The basic support limit per corporation is 5 million won, and when the limit is exhausted, an additional 5 million won can be provided. That means each corporation can receive up to 10 million won.
Starting with this program, procedures will also be simplified. The post office will provide KOSME directly with proof of international logistics use by participating corporations. This allows selected corporations to receive subsidies without submitting supporting documents separately.
The Ministry of SMEs and Startups (MSS) and the Korea SMEs and Startups Agency (KOSME) plan to reduce logistics cost burdens for small exporting corporations and support their entry into overseas markets through this program.
Kang Seok-jin, chair of KOSME, said, "This support is intended to help both novice exporters and existing exporting corporations use the post office's international logistics services at lower cost," adding, "We expect it will help ease export logistics burdens and enhance export competitiveness amid an uncertain external environment, including rising oil prices due to the Middle East war and a strong won-dollar exchange rate."
Applications can be submitted on the Gobiz Korea website through Sept. 9.