SBA Launches Logistics Cost Support Program for Exporters Amid Middle East Disruptions

The Seoul Business Agency (SBA), led by CEO Kim Hyun-woo, announced on April 21st its initiative to provide logistics cost support to export companies affected by disruptions in the Middle East. The program allocates up to 30 million KRW per company, covering 90% of incurred logistics expenses. This move is critical as rising maritime rates and operational delays have forced some businesses to pause or reduce their export activities, heightening economic uncertainty.

This responsive measure, dubbed the "2026 Middle East Logistics Support Program," is designed to streamline funding processes, allowing for rapid disbursement of support funds. Companies interested in the program will receive selection results within three business days post-application and can expect funding to be issued within 14 days after being selected. This swift financial assistance is anticipated to relieve cash flow pressures for exporters during a challenging period.

The support is conditional upon companies submitting verifiable proof of logistics costs, which will be rigorously vetted to confirm the legitimacy of expenditures associated with actual exports. This collated approach ensures that funding directly addresses the logistics challenges stemming from the ongoing Middle East situation, rather than broader global freight increases.

A noteworthy feature of this initiative is the allowance for multiple applications from the same company, recognizing the recurring logistical challenges some exporters face. By enabling such flexibility, the SBA aims to enhance support for businesses grappling with ongoing disruptions in logistics, thereby facilitating continued export operations.

Applications for assistance can be submitted online through the SBA website, with detailed guidelines available in the announcement. Kim emphasized the importance of providing timely and effective support, stating that continued export capabilities are essential for businesses adversely affected by the current geopolitical situation.

This initiative not only represents immediate financial relief for exporters but also positions the SBA as a proactive player amid increasing complexities in international trade. With logistics efficiency being paramount to supply chain integrity, this support program signals a strategic imperative for maintaining export trajectories in the face of unpredictable global events.