Seoul: The government will provide comprehensive support for small and medium-sized enterprises (SMEs) facing difficulties in exports amid continuing turmoil in the Middle East, the industry ministry said Wednesday. The Ministry of Trade, Industry and Resources announced plans to address export-related challenges for SMEs shipping to the Middle East and expand liquidity support to minimize disruptions in South Korea's exports.

According to Yonhap News Agency, although outbound shipments to the Middle East account for only around 3 percent of South Korea's total exports, the government aims to assist Korean firms facing mounting difficulties in logistics and supply chains due to the de facto closure of the Strait of Hormuz. The ministry highlighted that the Shanghai Containerized Freight Index for Middle Eastern routes surged by 72.3 percent from a week earlier, indicating escalating cost pressures for exporters, alongside rising international oil prices.

Officials plan to expand export vouchers through cooperation with agencies and related authorities, including the SMEs ministry and the Financial Services Commission, to further aid affected exporters.