The Ministry of SMEs and Startups building at Government Complex Sejong / Courtesy of Ministry of SMEs and Startups
The Ministry of SMEs and Startups said Monday it is launching a new initiative to help promising small businesses scale into export-ready firms, opening applications for the “2026 Global Small Business Development Program.”
The program, introduced this year, offers support for export capability training, product development tailored to overseas markets and access to international markets for participating firms. About 100 companies will be selected under two tracks — a Local Track for 60 firms and an Innovation Track for 40 — based on their business models and global competitiveness.
Support is structured in phases. The ministry will first assess each participant’s readiness for overseas markets, then provide training on customs procedures, regulatory requirements and market expertise, focusing on four consumer goods categories: food, cosmetics, fashion and household products. Companies will also receive guidance on product adaptation and localization strategies tailored to target markets.
To give these nascent ventures a foothold, the government is offering up to 100 million won ($72,000) in commercialization grants. The funding is a targeted injection of capital designed to help local startups navigate the costly hurdles of modern business, from initial product development and brand overhauls for international markets to the technical — and often expensive — process of securing intellectual property rights and industry certifications.
A global specialization component offers support for listing products on international e-commerce platforms and participation in overseas trade fairs, covering both online and offline export channel development.
Applications are open through May 15 via the ministry website (https://www.mss.go.kr/site/eng/main.do).
This article was published with the assistance of generative AI and edited by The Korea Times.
Source: Korea Times News
