SMEs Ministry Recruits Participants for "K-Brand Challenge" ... Export Support Provided

Until August 7

A total of nine companies to be selected and supported for export

The Ministry of SMEs and Startups announced on July 26 that it is recruiting small and medium-sized enterprises (SMEs) to participate in the "K-Brand Challenge."

Signboard of the Ministry of SMEs and Startups in Sejong City. Photo by The Asia Business Daily DB

The K-Brand Challenge is a program aimed at discovering SMEs in the consumer goods sector with high growth potential and supporting them to become export companies with global competitiveness.

This initiative was launched in 2024 under the name "K-Beauty Creator Challenge" to discover promising SMEs in the beauty sector and help them enter the global market. This year, the program has expanded its support to include the fashion (apparel) and lifestyle sectors, and has been renamed the "K-Brand Challenge."

The program is open to SMEs with their own brands in the beauty, fashion (apparel), or lifestyle sectors. Eligible applicants are either domestic companies or beginner exporters whose exports totaled less than 5 million USD in the previous year.

The Ministry plans to select a total of nine companies — three from each sector — through the preliminary, main, and final rounds. Selected companies will have opportunities to participate in pop-up stores operated both in Korea and overseas and engage in export and investment consultations with buyers and investors from abroad.

Additionally, benefits include online marketing support, priority selection for export support programs such as export vouchers and acquisition of overseas certifications, as well as preferential benefits for the Initial Startup Package program for newly established enterprises.

The application period runs until August 7. More details about the program can be found on the GoBizKorea website operated by the Korea SMEs and Startups Agency.

This content was produced with the assistance of AI translation services.