Joo Young-sup, head of the Small and Medium Business Administration will actively build an environment to help small and mid-sized enterprises (SMEs) find online sales channels targeting overseas markets. The project is to prepare conditions to empower SMEs to reach the goal of US$50 billion (global market share of 5%) in 2020. As of last year, SMEs’ online exports reached about US$160 million.
“We will turn Korea into an online export powerhouse that will take the lead in global online trade via online trade channel diversification, getting out of open market-centered limited platforms,” Joo said in a meeting with reporters held in Yeoido, Seoul on July 4.
First of all, the Small and Medium Business Administration will support excellent SMEs for building independent online shopping malls for the diversification of export channels particularly by providing services of translation, product registration and marketing.
In particular, such SMEs will be able to enjoy the government’s viral marketing such as search engine marketing, a connection between Korean cultural wave marketing and online distribution and the utilization of power bloggers and SNS.