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Busan Expands Support for “General Trading Companies” to Help SMEs Go Global

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Busan Metropolitan City (Mayor Park Heong-joon), in cooperation with the Busan Regional Headquarters of the Korea International Trade Association (Director Kim Do-gyeom), announced that it will recruit 10 local general trading companies from July 21 to August 8 for participation in the “2025 Busan General Trading Company Overseas Marketing Support Program.”

The “Busan General Trading Company Overseas Marketing Support Program” is designed to utilize the export agency capabilities of local general trading companies by supporting participation in overseas exhibitions and buyer sourcing/meetings, thereby assisting export-inexperienced SMEs in entering foreign markets.

General trading companies in Busan have played a key role in developing overseas markets by discovering domestic manufacturers and inviting them to participate in overseas exhibitions and meet with buyers.

The city is actively supporting local companies to enter the global market through reliable partners who can manage complex export procedures. It is also working in various ways to increase the number of Busan-based companies designated as “General Trading Companies” by the Ministry of Trade, Industry and Energy (MOTIE).

Status of General Trading Company Designation for Busan Companies: 75 (as of July 2024) → 81 (as of July 2025)

<General Trading Company System> ※ Designated by MOTIE (since 2009)

• ●(Function) Supports overseas expansion of export-beginner SMEs by acting as an export agent, conducting overseas marketing, sourcing buyers, and providing export consulting

• ●(Incentives) Opportunities to match with promising companies, export insurance support, customs and tax assistance, marketing support, etc.

• ●(Eligibility) Must meet at least one of the following criteria: export performance of over USD 1 million in the previous year or over the past three years, with more than 20% of the total exports consisting of products from other SMEs/mid-sized companies; and must not fall into the bottom two credit rating grades

The program is open to the 81 general trading companies based in Busan*, and applicants will be evaluated based on the city’s Overseas Exhibition Participation Evaluation Criteria. Companies with the highest scores will be selected.
*Designated annually in July by MOTIE; designation valid for 3 years

Selected companies will receive the following reimbursements: full coverage of booth rental and setup costs for overseas exhibitions; 80% of round-trip airfare for company representatives when visiting overseas buyers; and full coverage of airfare and accommodation for invited buyers. (Up to KRW 2 million per company)

By actively utilizing general trading companies equipped with export know-how, the city expects to expand exports of local manufacturing SMEs and support domestic and export-beginner companies, thereby revitalizing the regional economy.

Last year (2024), 10 general trading companies supported through this program achieved export results totaling USD 21.93 million (approx. KRW 30.4 billion).

<2024 Key Success Cases>

• ●KR Trading (food): Conducted buyer meetings with Russian clients and explored new export opportunities → USD 6.5 million in exports

• ●Remetal Industries (steel & machinery): Expanded cooperation with Vietnamese and Japanese buyers; potential exclusive contract under review → USD 1.93 million in exports

• ●NGU International (food additives): Engaged long-term clients and conducted on-site inspections to explore further business opportunities → USD 10.34 million in exports

In particular, this year’s support period has been extended to allow selected companies to receive retroactive reimbursement for marketing expenses incurred from the beginning of the year, in order to better support their active overseas expansion efforts.

This is a shift from the previous approach of only supporting expenses incurred after selection, and reflects the unique characteristics of export companies whose marketing activities are often concentrated early in the year.

Companies wishing to participate may apply through the city’s overseas marketing system (trade.bepa.kr) from July 21 to August 8.

Kim Bong-cheol, Assistant Mayor of Digital Economy Office, stated, “With rising trade barriers in the U.S. and increasing global trade uncertainties, small and medium-sized enterprises face greater challenges in entering overseas markets. Through this support program, Busan Metropolitan City will actively utilize experienced trading companies and help lower the hurdles to market entry for export-beginner companies.”