GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) Gwangju City announced April 18 that it is looking for companies interested in participating in the 2016 hidden champion development project.

The 2016 hidden champion development project is to find small- and medium-sized companies with strong growth potential to develop them into global companies that will drive the regional economy. The city aims to nurture 100 hidden champions by 2017.

In order to join the project, companies should be in the manufacturing and knowledge service industry and have headquarters in Gwangju. Their annual sales should exceed KRW 5 billion (more than KRW 1 billion for companies in the knowledge service industry).

Also, the annual growth rate of sales should be more than 5% for the last five years and the research and development spending as a percentage of sales should be more than 1% for the last three years.

Please contact Gwangju Technopark for more information (☎062-602-7226).

nicepen@yna.co.kr

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