The Korea International Trade Association has inked an MOU with the World Federation of Overseas Korean Traders Association to give the nation's smaller firms a helping hand.
According to Seoul's trade ministry,... the associations' combined 7-thousand members from 21 countries will help South Korea's small and medium sized companies find buyers, markets, and serve as the export agency.
The trade associations will select 20 companies this year and one hundred by 2021 to help them become local trading firms.
The ministry said the agreement will enable Korean SMEs to enter overseas markets more easily and create an extra one-point-seven billion U.S. dollars in exports.