South Korea’s international traders organization said Monday that it will provide 80 billion won ($74.7 million) in export marketing support to small and medium enterprises this year to help them expand overseas.

The money will come from a designated 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 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.

The amount of planned support this year represents a 9.4 percent increase from the 73.1 billion won offered in 2013.

“The money can be used so companies can take part in trade fairs, invite potential buyers or send sales people abroad, secure patents and win export related certification, and conduct market research,” KITA said in a press release. (Yonhap)