Additional Support Measures to Encourage Exports

Country / jurisdiction: Korea · Year: 2023 · Status: In force · Level: National · Type: Voluntary

The Korean government's Emergency Economic Ministers Committee (led by the Ministry of Economy and Finance) announced Additional Support Measures to Encourage Exports, a portfolio of policy measures aimed at boosting export competitiveness through a combination of deregulatory measures, financing support, and government grants.

Measures include both general support that apply to a wide range of industries; and specific funding measures aimed at key strategic industries (including energy, semiconductor, and battery manufacturing industries).

General support measures include:

Loan financing for small and medium enterprises participating in national high-tech strategic industries.

Increased grant funding for the "re-shoring" of high-tech industry businesses.

Increase funding and financing support for National High-tech Strategic Industry Zones.

Deregulating export controls related to strategic industries.

Financing support for export businesses through both publicly owned financial institutions and public-private partnerships.

R&D support through designated university research centers and infrastructure construction support

Details for specific funding measures by sector are provided as separate entries.

Official source: https://www.korea.kr/briefing/pressReleaseView.do?newsId=156588220