The Ministry of Trade (Minister Kim Jeong-gwan) and KOTRA (President Kang Kyung-sung) have announced the implementation of the ‘Emergency Support Voucher 4th Initiative’, aimed at assisting small to medium-sized enterprises (SMEs) grappling with external trade difficulties resulting from high exchange rates and export controls in major countries. Companies are invited to participate until July 21.
This fourth initiative is strategically focused on providing targeted support to firms impacted by the ongoing risks of global trade, particularly those facing losses due to elevated exchange rates and stringent export regulations. The inclusion of dedicated services tailored to these challenges highlights the initiative's operational specificity and responsiveness to existing market conditions.
The initiative expands financial safeguards for export companies burdened by rising raw material import costs and exchange rate risks. A new up-front subsidy program allows businesses to settle expenses for currency volatility insurance, even if the policy ends after the voucher agreement date. Moreover, the limit on the use of trade insurance and guarantee services has been increased from 10 million won to 20 million won, thereby alleviating financial pressures on exporting firms.
To further assist exporters confronting trade regulations and strategic material controls, specialized consulting services have been introduced. These services will analyze the impact of overseas export control measures on domestic firms, providing tailored counter-strategies and necessary compliance certifications, including the Certified Partner (CP) designation and enhanced internal control systems for effective risk management.
Kang Kyung-sung emphasized that “export companies are currently facing a dual crisis due to high exchange rates and global export controls.” He stated that through this fourth initiative, the aim is to deliver precise support to SMEs struggling in trade, enabling them to navigate macroeconomic barriers collaboratively and maintain export vitality through hands-on specialized services.
The monetary support from the emergency vouchers ranges from 20 million won to a maximum of 150 million won, contingent upon the selected firms' industry and revenue size, with government subsidies covering 70% for SMEs and 50% for medium-sized enterprises. In consideration of urgent needs, the program's service costs incurred since February will be retroactively applied, with support extending through January 2027 for a total duration of 12 months.
