Exports by Global Small Business Development Program Participants Up 56%

Export destinations expanded from 44 to 75 countries
Expanded into 31 new countries

The Ministry of SMEs and Startups found that exports by companies participating in the Global Small Business Development Program, launched for the first time this year, rose 56% from a year earlier. The number of export destinations also increased.

On November 10, the ministry announced the export results of 100 companies selected for the Global Small Business Development Program, which supports businesses in developing overseas sales channels. The program provided small businesses with high export potential in the consumer goods sector with phased support, including education to strengthen their export capabilities, development and commercialization of export-ready products, and participation in overseas consumer goods exhibitions.

Of the 100 companies selected this year, 92 recorded exports. Their exports rose from $4.52 million in January-September last year to $7.06 million over the same period this year. This represents an increase of 56.3%. The number of export destinations also expanded from 44 to 75 countries. The companies diversified their export markets, moving beyond their traditional focus on East Asia, the United States, and China to enter 31 new countries, including Russia, Eastern European countries, and African countries. In addition, six companies with no export record last year achieved their first exports, showing that the program helped small businesses make their first exports and enter new markets.

Among the participating companies, Samon developed healthy snacks using byproducts from the production of red ginseng and recorded its first exports this year, worth approximately $11,000. Themis, which developed cosmetics using functional ingredients derived from salmon, increased its exports from approximately $38,000 in 2024 to approximately $270,000 this year.

At the First Local Startup Festa in Jeju, held in Jeju on November 6, the two companies were recognized for their export growth potential and performance. They were named outstanding companies in the Frontier and Step Up categories, respectively, and received awards from the Minister of SMEs and Startups.

Meanwhile, the First Local Startup Festa in Jeju drew around 1,000 participants over three days, including local businesses, small business owners, investors, overseas buyers, and representatives of related organizations, reflecting strong interest in local startups and global expansion. At the event, K-Small Businesses' products and brands were introduced to overseas buyers, and examples of export contracts worth a total of KRW 1.6 billion secured by seven local businesses were shared. Overseas buyers from China and Hong Kong also submitted letters of intent (LOIs), demonstrating their commitment to cooperation to expand exports in the future.

Kim Jeongju, Director General of the Small Business Policy Bureau at the Ministry of SMEs and Startups, said, "As global interest in and response to K-consumer goods continue to grow, we will provide full support to help innovative small businesses bring their outstanding products to global markets."

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