GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU = Yonhap News) The Gwangju regional office of the Small & Medium Business Corporation (SBC) announced on February 11 that it will provide a total of KRW 145 billion to support small and medium-sized enterprises (SMEs) in 2014.

As it is expected that SMEs will struggle under the current economic conditions, the office plans to help SMEs pursue globalization and strengthen their competitiveness by vitalizing job creation and providing support for employment and exports.

The corporation will increase special interest rates for SMEs that hire new employees to two percent, and extend the required business operating history from five to seven years.

It will also increase the amount of budget for supporting youth employment by KRW 800 million, to KRW 4.3 billion.

Officials of the SBC will visit the SMEs in person to discover difficulties of the companies and draw up suggestions for the government.

For exports, the SBC will use its 17 export incubators in 11 countries including the United States to introduce marketing and online buyers and provide professional consulting services for SMEs, and help the companies establish overseas branches and promote their products.

3pedcrow@yna.co.kr

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Source Text

Source: Yonhap News (Feb. 11, 2014)

** This article was translated from the Korean.