As the pandemic continues with no end in sight, the local economy is hit hard with small and medium-sized businesses facing increasing difficulties.
The Jeju Free International City Development Center is making joint efforts with national public firms, including the Korea Airports Corporation, to help local businesses become more competitive.
Mike Laidman reports.

Report

With the Covid-19 pandemic continuing, and becoming more serious, the financial difficulties that small and medium-sized businesses have been facing are worsening.
The virus has had, and continues to have, a severe impact on the local economy, as 99 percent of businesses in Jeju are categorized as small or medium-sized.



The Jeju Free International City Development Center is working hand-in-hand with national public firms,including the Korea Airports Corporation, to help local businesses strengthen their competitiveness.

The MOU, drafted by the Jeju Free International City Development Center, is meant to make small and medium-sized businesses more competitive when it comes to exports. It was signed by the Korea Airports Corporation, Korea Trade Insurance Corporation, Korea Small Business Association, and the Korea SMEs and Startups Agency.


The signers of the MOU promise to mobilize all available resources to help SMEs overcome their financial difficulties.



The agreement ceremony was held virtually to keep social distancing limits.

Recording
Moon Dae-rim / CEO, Jeju Free International City Dev. Center
Resources from these organizations will be concentrated on expanding the domestic and international markets of SMEs, which is very important.
<싱크 : 문대림/ JDC 이사장>
각 기관이 갖고 있는 핵심 역량을 결집해서 소상공인, 중소상공인들의 내수활성화와 수출 활성화를 위해서 직접적인 지원을 하는 것은 매우 의미있다고 봅니다.



The very first project under the MOU will feature product promotion booths and shops for SMEs at the Jeju International Airport.



If the results are good, the project could see itself expanding to 18 shops at 10 airports.



The goal of these airport shops is to create new domestic and international markets for the products SMEs sell.

Recording
Son Chang-wan / CEO, Korea Airports Corporation
We believe that airports are the best place to promote the growth of SMEs domestically and internationally. The shops at airports will raise brand awareness, which will hopefully lead to more successful exports and growth.
<싱크 : 손창완/ 한국공항공사 사장>
중소상공인 성장에 공항이 최적의 장소가 될 수 있다는 가능성을 설계하고 있습니다. 중소상공인 제품이 인지도와 경쟁력을 확보하고 수출까지 이르게 하는 중소상공인 성장의 선순환을 만들어 나가는 데 있어서 가교 역할을 할 것이라고 생각합니다.


Small and medium-business owners on Jeju Island are hoping that this new MOU will go some ways to ease their financial difficulties and stress during this third wave of the Coronavirus pandemic.

Mike Laidman, KCTV