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Gwangju Unveils Plan to Foster SMEs
(GWANGJU = Newsis) The city of Gwangju announced on February 19 that it will invest a total of KRW 474.1 billion to strengthen competitiveness of local small and medium-sized enterprises (SMEs).
The officials of the city, the Gwangju Chamber of Commerce & Industry, Gwangju Small and Medium Business Administration and other relevant authorities gathered at the City Hall and held a meeting to announce the SMEs support plan for 2014.
The city decided to focus on fostering the prospective local SMEs as small and medium hidden champions, and increased its financial support by KRW 10.3 billion to KRW 474.1 billion this year.
It will also foster 1,110 SMEs by supporting their R&D and intellectual property, and provide KRW 3.8 billion to seven universities and 15 businesses to strengthen their competitiveness. KRW 1.9 billion will be invested in 15 companies to develop robust intellectual property and help them become IP Star companies.
The city will invest a total of KRW 22.2 billion to construct a lease-type knowledge industrial center in an effort to develop infrastructure for SMEs.
It will select five leading experts and reimburse educational and training fees of 1,000 of business administration, quality management and IT workers.
To expand export markets for SMEs, the city plans to provide consulting services, back marketing activities and participation of various trade expositions for 60 export startup businesses.
“Gwangju recorded the highest export growth rate, number of new jobs and employment rate among the special and metropolitan cities. We will do everything we can to help local SMEs become the foundations for the local economy,” said Kang Woon-tae, Mayor of Gwangju. kykoo1@newsis.com
Source Text
Source: Newsis (Feb. 19, 2014)
** This article was translated from the Korean.
Date
2014.02.20
Views
473
(GWANGJU = Newsis) The city of Gwangju announced on February 19 that it will invest a total of KRW 474.1 billion to strengthen competitiveness of local small and medium-sized enterprises (SMEs).
The officials of the city, the Gwangju Chamber of Commerce & Industry, Gwangju Small and Medium Business Administration and other relevant authorities gathered at the City Hall and held a meeting to announce the SMEs support plan for 2014.
The city decided to focus on fostering the prospective local SMEs as small and medium hidden champions, and increased its financial support by KRW 10.3 billion to KRW 474.1 billion this year.
It will also foster 1,110 SMEs by supporting their R&D and intellectual property, and provide KRW 3.8 billion to seven universities and 15 businesses to strengthen their competitiveness. KRW 1.9 billion will be invested in 15 companies to develop robust intellectual property and help them become IP Star companies.
The city will invest a total of KRW 22.2 billion to construct a lease-type knowledge industrial center in an effort to develop infrastructure for SMEs.
It will select five leading experts and reimburse educational and training fees of 1,000 of business administration, quality management and IT workers.
To expand export markets for SMEs, the city plans to provide consulting services, back marketing activities and participation of various trade expositions for 60 export startup businesses.
“Gwangju recorded the highest export growth rate, number of new jobs and employment rate among the special and metropolitan cities. We will do everything we can to help local SMEs become the foundations for the local economy,” said Kang Woon-tae, Mayor of Gwangju. kykoo1@newsis.com
Source Text
Source: Newsis (Feb. 19, 2014)
** This article was translated from the Korean.