The Gwangju Metropolitan City is expanding support for local small and medium-sized enterprises (SMEs) to help them enter overseas markets, particularly for those unable to establish their own branches abroad.
The city announced it will add around 20 more local SMEs to its '2026 Overseas Branch Support Project.'
The number of overseas trade offices that companies can utilize will be increased to a maximum of two, with participation fees supported up to 80%. This initiative aims to lower the entry barriers for SMEs that feel burdened by the costs of operating local offices and marketing while pursuing overseas market development.
The overseas branch project allows KOTRA (Korea Trade-Investment Promotion Agency) overseas trade offices to act as local branches for SMEs that find it difficult to set up their own offices abroad.
Participating companies will receive support for overseas marketing activities, including buyer discovery, market research, export consultations, participation in exhibitions and consultations, and distribution network development through the overseas trade offices.
This year, the support has been expanded to include companies from the former Jeonnam region, coinciding with the launch of the Gwangju Metropolitan City. As a result, companies that previously had to bear the costs of overseas branch services on their own or found it difficult to participate due to financial burdens can now receive support.
For instance, a beauty company from the former Jeonnam region has been included in the support program for the first time this year.
A representative from Company A stated, "We had to cover the necessary costs ourselves as we were unable to receive support for overseas branch establishment. With the expansion of the support program this year, we can reduce our financial burden and actively pursue overseas market development."
The city plans to operate the program not only by providing financial support but also by aligning it with the specific overseas market entry needs of each company, facilitating buyer discovery, market research, local marketing, and export consultations leading to contracts.
To achieve this, KOTRA will leverage its network of 124 overseas trade offices in 80 countries to support local marketing tailored to each company's products and desired regions, thereby expanding export opportunities.
Shin Hyun-gon, the International Cooperation Director of Gwangju Metropolitan City, stated, "With the integration, we have reduced the gaps in support that varied by region and expanded the scope of assistance to help more companies enter overseas markets. We will continue to provide impactful overseas marketing support that allows companies to focus on export activities while lowering their financial burdens."
Meanwhile, the overseas branch support project aims to assist SMEs that find it challenging to secure local bases abroad by utilizing KOTRA's local networks and marketing capabilities. Gwangju Metropolitan City plans to expand the support areas and number of companies this year to bolster the entry of local SMEs into new overseas markets and diversify their export channels.
* This article has been translated by AI.
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