KITA to provide 80bn won SME export marketing support in 2014

South Korea's international traders organization said Monday that it will provide 80 billion won (US$74.7 million) in export marketing support to small and medium enterprises (SMEs) this year to help them expand overseas. The money will come from a dedicated trade support fund and provided to companies that reported exports of less than $10 million last year, with up to 200 million won for each company, the Korea International Trade Association (KITA) said. It said the annual interest rate for the fund has been set at 4 percent, with businesses allowed to start repayment of the principal in the third year through an installment arrangement to ease their repayment burden.