GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) On July 17, Gwangju city announced that it received A-level in the evaluation of 2018 Regional Industry Fostering Project conducted by the Ministry of SMEs and Startups (MSS) on 14 cities and provinces, except for the capital area.

The project is a national project implemented since 1999 to boost regional economies.

Every year, a plan to boost regional industries is established. Depending on the classification of result (level-S, A, B, C), budget is supported differently.

In 2018, the areas for the evaluation are R&D and non R&D sectors of regional projects.

The evaluation indicators include local governments' efforts to manage results, project results, and outstanding companies of the projects.

Gwangju city was highly regarded for "Innovative growth council for strategic industry" connecting innovation organizations in the region and public organizations of innovation cities to manage performance and foster regional industries.

It also obtains good scores for its policy of setting up an entity responsible for job planning and great small but competitive companies within Gwangju Techno Park to support regional companies.

Gwangju city has attained A-level for five years in a row since 2014.

Thanks to the evaluation results of 2018, it secured KRW 1 billion of national incentive for strategic industries in 2020.




kjsun@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (July 14, 2019)