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SME
end of September this year, exports of 1,592 SMBA-supported
SMEs shot up to US $3.11 million from last year's US $2.62, a
whopping 120 percent in growth.
Striking SME MOUs with other nations
and raising joint SME funds
Most noteworthy among the SMBA's activities are efforts to
lay the groundwork for foreign market entry by reinforcing international
collaboration. By forging friendly relationships with
many nations, the SMBA has created an environment where
Korean SMEs can actively engage in trade activities of various
markets. For example, the SMBA signed MoUs with China, the
United Arab Emirates (UAE) and Israel, increasing joint SME
promotional funds and facilitated SME investment. The SMBA
has stepped up it's cooperative relationships with other nations: it
introduced Korea's SME promotional policy to African nations
such Ghana and Congo and invited interested parties who
wished to learn about Korea's SME policy to participate in such
activities. "The government of Dubai that has recently gone
through an economic crisis but has shown a high interest in manufacturing.
Thus, we dispatched our experts to the UAE who
wanted to learn about Korea's SME promotional policy and system,
to offer strategic consulting services, advice on systems and
English-language documents on laws. We always welcome any
nation who wishes to take cues from Korea's SME promotional
policy and system," said Director Kim Young-tae. The SMBA also
holds trade exhibitions and sends trade promotion delegations
to emerging markets such as the Middle East and to Korea's FTA
partners to chart new territory and unearth niche markets.
Besides, to help Korean SMEs overcome high overseas trade barriers
such as tricky technical standards, the SMBA offers information
on overseas standards and how to get certified. Now, the
SMBA is poised to wade into the markets of Korea's FTA partners
like the EU, India and Chile as well as uncharted territory in
Central and South America and Africa in search of niche markets.
By fully cashing in on the advantage of FTA tariff eliminations,
the SMBA plans to intensively tap into a huge commerce of
emerging market economies to gain a vantage point.
Director Kim said, "We will make an all-out effort to discover
strategic markets that are waiting to be tapped by Korean SMEs
by conducting an in-depth market analysis by nation and by
item."
Exports of Korean SMEs' products
and success stories
Thanks to the SMBA's full-scale support, Korean SMEs' advanced
technologies and SME CEOs' strong determination to export,
more Korean SMEs are making a profit in oversea markets.
Case in point is HAAN, a Korean home appliance maker.
Armed advanced steam vacuum cleaners, HAAN has made remarkable
achievements in overseas markets through its rigorous
localization strategies such as setting up a subsidiary in the US
and breaking into distribution markets. Another success story
comes from the Korean company Lock & Lock who has been
very successful in selling airtight food storage containers online
and on home shopping networks in China. In addition, there are
many SMEs whose businesses have been booming in the global
market thanks to the Korean government's backing for overseas
marketing. For instance, in 2009, a Korean company that was included
in the project, Make Korean SMEs Exporters - which provides
participating SMEs with education on trade, buyer-seller
matching services and market research - posted over US $15 million
in exports, up from US $20,000. Another Korean company
in the Project also saw its exports jump from US $60,000 to over
US $5 million thanks to the Project's in-depth market research
and trade shows. Additionally, Osstem Implant, a Korean supplier
of dental implants, has successfully developed premium brand
"HiOssen" and it won the US $20 Million Export Award in
2008.
Kim Yearim/ yearim@koreaittimes.com
www.koreaittimes.com 61