GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU = Yonhap News) The North District of Gwangju announced on March 19 that it has provided KRW 1.374 billion to 211 businesses as part of its local business specialization support project since 2010.

The district was the only one of five autonomous districts in Gwangju to divide businesses into two groups – prototype production and design design development – and support KRW 515 million and KRW 390 million, respectively.

It also helped businesses proceed with protection of intellectual property rights, acquisition of INNO-BIZ certification, and carried out one-man innovative business development project.

By supporting development of prototypes for early stage technological commercialization of small and medium-sized enterprises (SMEs), optical communication products of Phome Co., Ltd. and vacuum blood collection tubes of AB Medical are now sold on the market, the district explained

Propolis products of Bio Propolis Technology Co., Ltd. and baby bottles of SOS, which were designated as for design development, were successfully commercialized.

According to the statistic data published by the Korea International Trade Association, the district posted KRW 4.79 billion in exports in 2013, up by 43.4 percent from an year earlier.

“The district will actively support SMEs and micro enterprises, which are the vital foundation of the local economy, to create more jobs and vitalized the local economy,” said an official of the district.

areum@yna.co.kr

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Source Text

Source: Yonhap News (Mar. 19, 2014)

** This article was translated from the Korean.