Ulsan, South Korea – The Ulsan Regional Small and Medium Enterprise Administration (Ulsan SME) is inviting applications for the 'Export Voucher' and 'Global Strong SME 1000+' projects, running from January 7 to 23. These programs are designed to assist small and medium-sized enterprises (SMEs) in expanding their global reach.
This year, the Export Voucher program will support approximately 2,400 companies. The Ulsan SME will prioritize support for "innovative domestic companies," "companies that have successfully diversified their export markets," and "high-growth export companies."
Specifically, the administration plans to:
Support Innovative Domestic Companies: Select up to 100 innovative SMEs, including Main-Biz, Inno-Biz, and venture-certified companies, as "robust domestic companies" and provide an additional 50% voucher limit to foster their export activities.
Reward Export Market Diversification: Offer a 20% increase in the voucher limit to 250 companies that participated in the SME Export Voucher program last year and expanded their export markets in 2023.
Incentivize High-Growth Exporters: Provide a 50% increase in the voucher limit to companies that achieved over $1 million in exports last year and maintained a 20% or higher average annual export growth rate over the past three years.
In addition to the Export Voucher program, the Ulsan SME is also recruiting companies for the 'Global Strong SME 1000+' project. This initiative targets SMEs with over $100,000 in exports last year and high growth potential, classifying them into four tiers based on their export performance.
Furthermore, companies designated as "Global Strong" or "Global Strong+" will be eligible for additional support programs provided by regional governments.
The Ulsan SME's recruitment drive underscores the South Korean government's commitment to fostering the growth of domestic SMEs and enhancing their global competitiveness. By providing targeted support and incentives, these programs aim to help Ulsan-based companies successfully penetrate overseas markets.
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