Support for Jeonnam-Gwangju SMEs Entering Overseas Markets... Gwangju Metropolitan City to Expand the 'Overseas Branch Office Support Program'

[Financial News, Jeonnam-Gwangju = Reporter Hwang Tae-jong] Jeonnam-Gwangju Integrated Special City (Gwangju Metropolitan City) will expand the 'Overseas Branch Office Support Program' this year following the launch of the integrated special city, actively supporting local SMEs' entry into overseas markets.
 According to Gwangju Metropolitan City, the 'Overseas Branch Office Support Program' is designed to reduce the cost burden on SMEs engaged in overseas marketing. The Korea Trade-Investment Promotion Agency (KOTRA)'s overseas trade offices serve as local branches for SMEs that find it difficult to establish their own offices abroad. Through these trade offices, participating SMEs can find buyers, conduct market research, receive export consultations, take part in exhibitions and trade consultations, and identify local distribution networks.
 Gwangju Metropolitan City plans to expand the existing eligibility criteria this year to include companies in the former Jeonnam region, providing support to about 20 companies. As a result, companies that previously used overseas branch office services at their own expense or were unable to participate because of the cost burden will also be eligible for support.
 Shin Hyun-gon, International Cooperation Officer at Gwangju Metropolitan City, emphasized, "With the Jeonnam-Gwangju administrative integration, we have broadened the scope of support to narrow gaps in corporate assistance that previously differed by region and help more companies enter overseas markets."
 Gwangju Metropolitan City plans to further expand the program so that each company can use up to two overseas trade offices. It will also cover up to 80% of each company's participation fee to reduce the cost burden on businesses engaged in overseas marketing.
 In addition, Gwangju Metropolitan City plans to use the program as an export support system linking buyer discovery → market research → local marketing → export consultations → contracts. Based on KOTRA's network of 124 overseas trade offices in 80 countries worldwide, the city will support overseas market development tailored to each company's needs and expand export opportunities.
 Shin Hyun-gon, International Cooperation Officer, said, "We will continue providing tangible support policies so that local SMEs can reduce the burden of overseas marketing costs and focus on export activities."

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