The Ministry of SMEs and Startups (Minister Han Sung-sook, hereinafter referred to as the Ministry of SMEs and Startups) announced on Wednesday the 24th that it held a meeting with related companies on the topic of online exports by small and medium-sized enterprises.
This meeting was held to convey to the government the difficulties faced in the online export process by small and medium-sized enterprises (SMEs) in the beauty, fashion, food, and lifestyle sectors, which are enjoying explosive popularity worldwide based on the powerful soft power of K-culture, and global platform companies and logistics companies such as Amazon, Shopee Korea, and Olive Young that are helping them expand overseas, and their expectations from policy authorities, and to discuss policy alternatives to revitalize online exports by SMEs.
The meeting featured a variety of discussions on the need for globalization of domestic platforms, which serve as the foundation for online exports, ways to strengthen mutually beneficial cooperation with existing global platforms, and the identification of promising online export items and comprehensive support measures. Discussions also focused on solutions to alleviate the logistics burden, a key challenge cited by many export companies.
In particular, some companies expressed concern that the abolition of the US small business exemption system*, which has recently become an issue, will have a significant impact on small and medium-sized enterprises exporting online, and emphasized the need for the government to prepare practical support measures, such as expanding support for platform entry, marketing, and logistics costs.
Minister Han Seong-sook, who presided over the meeting that day, said, “The online market is an important barometer that can quickly and accurately identify the latest trends, and it is a very useful means of overseas expansion, especially for small and medium-sized enterprises seeking new markets or customers, as the entry barriers and risks are not high.” She also expressed her will to “prepare and implement comprehensive support measures in various ways so that our small and medium-sized enterprises can expand the K-economic territory through online channels in the future.”
Meanwhile, the Ministry of SMEs and Startups plans to soon prepare and announce a plan to revitalize online exports for small and medium-sized enterprises, reflecting the opinions expressed at this meeting.
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