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Busan Metropolitan City Supports Global Market Entry for Small Businesses: “B-LICORN” Program Targets Global South Markets

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Busan Metropolitan City (Mayor Park Heong-joon) announced the official launch of the “2025 Busan Export Support Program for Small Businesses,” known as the “B-LICORN” initiative, aimed at systematically supporting local small businesses in expanding into overseas markets.

This strategic initiative, implemented in collaboration with the Busan Economic Promotion Agency (President: Song Bok-chul), seeks to nurture Busan-based small business owners into export-oriented entrepreneurs equipped with creativity and innovation.

The City has identified the Global South region as a key target market and has begun analyzing local market dynamics.
(*Global South: A group of emerging and developing countries primarily located in the Southern Hemisphere, including Southeast Asia, Africa, and Latin America.)

The Global South is an emerging market experiencing rapid growth in consumption driven by urbanization and the expansion of the middle class. These markets exhibit strong interest in Korean products such as K-food and K-beauty. Busan-made products, known for their quality and cost competitiveness, are seen as having high potential for successful entry into these markets.

In April, following a competitive selection process with a ratio of approximately 5:1, seven promising small businesses were chosen to participate in the B-LICORN program. These businesses began receiving export capability training and market preparation in May, and they are scheduled to be dispatched as part of a trade mission to the Global South in October.

One of the selected participants, Park Hye-ra, CEO of food manufacturing and processing company “Seed,” shared:
“Entering overseas markets involves many opportunity costs, but thanks to Busan City’s support, we were able to develop a clear export strategy and secure effective promotional tools. In particular, I gained confidence that our products can be competitive in the Global South.”

Program Timeline

• ●April 2025: Recruitment and selection of participating companies

• ●May–December 2025: Export readiness training and capacity building

• ●October 2025: Trade mission to the Global South

The B-LICORN program is structured to provide systematic, stage-specific support tailored to each company’s capabilities.

The program focuses on practical export activities and includes:

• ●Export capability assessments and customized training

• ●Participation in domestic export consultation events

• ●Dispatch of a trade mission to overseas markets

With the average dropout rate among small exporters at 29.1%, participating businesses in this initiative are expected to enter export markets more stably and sustainably.

Kim Bong-cheol, Director General of the Digital Economy Bureau of Busan Metropolitan City, stated:
“The B-LICORN program is significant in that it offers tailored support for small businesses lacking export experience — from capability assessment to practical consultations and international expansion. By strengthening the hands-on skills of early-stage exporters, we will inject vitality into the regional economy and actively support Busan’s small businesses in achieving continuous growth in global markets.”