[Ministry of SMEs and Startups]
[Ministry of SMEs and Startups]

The Ministry of SMEs and Startups announced Tuesday it will recruit a third round of participants for its 2026 Export Voucher Program to support small and medium-sized exporters struggling with a prolonged period of high exchange rates.

As the won has continued to weaken, small and medium-sized exporters that import raw materials from abroad have faced mounting cost pressures. Rising import prices have eroded profitability even as export volumes grow, leaving more companies in a difficult position. In response, the government said it will use this final recruitment round to focus support on businesses with the most urgent needs.

The program will deploy a total of 47 billion won ($30.5 million) to support approximately 1,200 companies. Priority will be given to firms whose operating costs have risen sharply due to the high exchange rate. Companies already participating in the Export Voucher Program that have suffered losses from the won's depreciation will also be eligible for additional support allowances.

The ministry will also strengthen exchange rate risk management for exporters. The support limit for trade insurance premiums will be temporarily raised from 10 million won to 20 million won. The measure is intended to help companies fulfill existing export contracts reliably and secure new orders amid heightened external uncertainty.

The Export Voucher Program provides companies with vouchers to cover services needed for overseas market entry. It supports more than 8,000 services across 15 categories, including design development, overseas marketing, buyer outreach, international trade fairs, foreign certification, international shipping and trade insurance.

Because this recruitment round is likely to be the final Export Voucher announcement of the year, strong interest is expected from companies in need of support. Applications will be accepted online through the Export Voucher website starting Wednesday.

The government said its aim is to minimize any decline in exports by expanding support so that companies can maintain existing trade relationships and continue developing new markets, even as the weaker won squeezes their profitability.

"Given the difficult export environment caused by the high exchange rate and external uncertainty, this additional announcement is a measure to quickly support the companies that need it most on the ground," said Shim Jae-yun, the ministry's director general for global growth policy. "As this is the final announcement of the year, we will take careful steps to ensure that companies that truly need support do not miss this opportunity."


boo@heraldcorp.com