Additional Support Measures to Encourage Exports
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.
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