Home > Business > Economy

Gov't to provide support to SMEs facing export difficulties due to Middle East conflict

Published: 11 Mar. 2026, 17:28

Containers ready for export are seen piled up at a port in Pyeongtaek, Gyeonggi, on March 1. [YONHAP]

The government will provide comprehensive support for small- and medium-sized enterprises (SMEs) facing difficulties in exports due to the continuing turmoil in the Middle East, the Ministry of Trade, Industry and Resources said on Wednesday.

The Industry Ministry said that it will immediately address export-related difficulties of SMEs that ship to the Middle East and expand liquidity support to minimize disruptions in Korea's exports.

Although outbound shipments to the Middle East account for only around 3 percent of Korea's total exports, the government will help Korean firms facing mounting difficulties in logistics and supply chains due to the de facto closure of the Strait of Hormuz, the ministry added.

The Shanghai Containerized Freight Index for Middle Eastern routes surged by 72.3 percent from a week earlier, indicating intensifying cost pressures for exporters, and international oil prices soared as well.

Officials will also expand export vouchers through cooperation with agencies and related authorities, including the Ministry of SMEs and Startups and the Financial Services Commission.

Yonhap