S.Korea offers major support to online overseas shipments of 100 promising SMEs

South Korea's Ministry of SMEs and Startups on Thursday said it launched an online export package program of extensive support for the entire process of online overseas shipments by small and medium enterprises (SME), selecting 100 entities for this year.

Up to 100 million won ($76,233) will go to each company for entering global shopping malls such as Amazon and conducting marketing and logistics.

The ministry runs programs to support SMEs' online exports, but to resolve the lack of synergy effect, this package program integrates others to simultaneously support the entire online export process.

Last year, online exports from SMEs reached $715 million in value, an astounding 860% jump from 2018, and the number of online exporting companies soared 570% to a record-high 3,815.

Write to Byung-Keun Kim at bk11@hankyung.com