GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) On July 24, Gwangju city awarded certificates to 8 small-sized companies selected as the 2018 pre-small-sized luxury goods companies.

The companies include Siheung Metal, Ssollock, Aimat, KCLP, HDT, Ecobee, Tronics and Das Design.

The pre-small-sized luxury goods companies are selected as part of the city's mid-to-long term corporate support policy that was first implemented in 2014. Through the policy, the city hopes to find and foster small-sized luxury goods companies to help them overcome obstacles in the conglomerate-dominant regional market.

Every year, the city selects 10 "pre-small-sized luxury goods companies" that are growing rapidly due to its technological competitiveness, to develop into stong, small-sized companies.

Those eligible for selection are manufacturing companies with sales of KRW 1 to 5 billion (KRW 5 to 10 billion for companies in the information services industry) and have invested at least 3% of total sales in R&D in the last 3 years.

Last year, 10 companies were chosen; this year, the city chose 8.

Gwangju City will provide the selected companies with technological, marketing and quality managemet support for 2 years.

In addition, each company will be assigned a manager to constantly listen to and resolve difficulties.

The city also plans to actively support the growth of companies by linking support projects through an organic collaboration system with related organizations.

kjsun@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (July 24, 2018)