(Yicai Global) March 23 -- South Korea has established a support center for small and medium enterprises in Qingdao, northeastern Shandong province and launched the first China-South Korea online-to-offline platform, Chinese local media reported today.

The South Korean SME Support Center will provide small and medium-sized SMEs with a one-stop service, including market research, trade support and company registration, to help them enter the Chinese market, Dazhong Daily reported. Costing USD50 million, it is the first overseas support center to be set up by the country’s Ministry of SMEs and Startups.

The O2O platform Zhonghan Youpin, which features almost 300,000 South Korean products, is expected to generate turnover of over CNY30 million (USD4.6 million) a year.

“The platform, backed by the Chinese and South Korean governments, guarantees product quality,” said Seol Kyu Jong, a South Korean jewelry maker with factories in Qingdao. He believes that the platform, which also hosts regular livestreaming events, will give him access to a bigger market for his jewelry.

Editor: Kim Taylor