- Export vouchers, expanded export insurance and guarantee support, as well as buyer consultation meetings to help businesses maintain overseas markets -
Incheon Metropolitan City announced that it would provide a total of KRW 525 million in support to help local small- and medium-sized enterprises (SMEs) minimize the impact of the ongoing conflict in the Middle East and secure stable access to overseas markets.
The support package consists of three initiatives designed to assist affected companies: export vouchers; expanded export insurance and guarantee premium assistance; and export consultation meetings with invited overseas buyers.
Incheon Technopark will administer the export voucher program and will provide a total of KRW 400 million, with up to KRW 10 million available per affected company. The initiative is intended to give companies the freedom to choose the support they need most, including assistance with logistics costs—the area of highest impact—overseas certification, participation in international trade exhibitions, and other export-related services. Applications for the export voucher program were announced on the BizOK website (bizok.incheon.go.kr) on Jun. 29 and will be accepted beginning Jul. 6.
The expanded export insurance and guarantee premium support program will be administered through the Incheon Branch of the Korea Trade Insurance Corporation. Companies affected by the Middle East conflict will receive priority consideration, with up to KRW 2 million per company and a total budget of KRW 50 million allocated to strengthen exporters’ risk management and financial security.
On Sep. 2, Incheon will host an export consultation meeting with invited overseas buyers in cooperation with the Incheon Office of the Korea Trade-Investment Promotion Agency. With KRW 75 million in budget, the event is expected to bring together 50 local companies, including used-vehicle exporters and automotive parts manufacturers. Companies wishing to participate may submit applications via the BizOK website between Jun. 25 and Jul. 17.
