SEOUL, May 25 (Yonhap) -- South Korea's arms procurement agency said Monday it will help local defense firms with their online public relations and marketing efforts, as major international expos have been canceled due to the new coronavirus.
The government plans to help small and midsized companies create online content to promote their products to vitalize the country's arms exports hit by COVID-19, according to the Defense Acquisition Program Administration.
Selected firms will receive up to 7 million won (US$5,600) each, it said.
"Including this online exhibition support business, we will continue trying to find various measures to help small and midsized companies in the defense industry, which have been having difficult times in exports due to the change in internal and external environments," its chief Wang Jung-hong said.
The created content will be available at www.defense-korea.com.
The agency also said the government will provide 40 billion won worth of loans to defense companies suffering from sales losses due to the pandemic.
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