The Busan Port Authority (BPA) has signed a memorandum of understanding (MoU) with the Busan Chamber of Commerce and Industry to support small and medium sized enterprises (SMEs) looking to enter overseas markets.
In a statement, the BPA said the MoU was signed to help SMEs struggling to export due to restrictions imposed because of the COVID-19 pandemic.
Both the BPA and the Busan Chamber of Commerce and Industry will aim to support businesses by “cooperating in promoting exporting and importing, nurturing global competitiveness and establishing a basis for shared growth between the private sector and the government”.
Key to the initiative are nine support programmes meant to help SMEs communicate with customers safely and efficiently, as well as promote and market services.
Additionally, the programmes include supporting SMEs establish overseas offices, credit checking of new customers, logistics, interpretation, legal advice and more.
“We hope that this MOU can serve as a stepping stone for SMEs in Busan in this difficult time,” said BPA’s CEO Nam Ki-chan.
“Based on the continuous cooperation with the Busan Chamber of Commerce & Industry, we will lead in promoting shared growth with SMEs.”