The government will provide unlimited rounds of policy funds through next year for small- to medium-sized enterprises(SMEs) that engage in exports as part of enhanced policy support.

The Ministry of SMEs and Startups announced the plan on Wednesday, citing a seven-point-nine percent drop in outbound shipments by SMEs in the first quarter compared to last year.

Limitations on policy funds will be temporarily waived for SMEs that posted over 300-thousand U.S. dollars in exports in the past year, while those posting over 100-thousand dollars in exports will be eligible for a three-percentage-point cut in interest on loans.

In a bid to diversify state support, 65 percent of export vouchers in the second half of the year will be distributed to domestic firms, while a smart distribution center for SMEs currently under construction at Incheon International Airport will be completed by 2025.

A global business center is set to open in the Saudi Arabian capital of Riyadh in September to help local businesses expand in the Middle East.