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According to Yonhap News,
(JEONJU = Yonhap News) North Jeolla Province (Jeonbuk) was ranked top among 16 cities and provinces on 25th in the “2013 Improvement of Business Environment and Support Business Difficulties” policy.
Jeonbuk’s 4,200 manufacturers are under poor conditions, for Small and Medium Enterprises (SMEs) account for 99.4 percent and agricultural & industrial complexes and footloose SMEs account for 71 percent of the manufacturing industry.
Despite such disadvantages, the governor’s determination and promotion of various business support projects were the main reason for the province’s nomination.
The initiatives which were carried out by the province to support business environment were outreach business support service, postponement of principal repayments of SMEs promotion fund, expansion of investment subsidy, enhancement of supporting systems to protect the weak enterprises.
The province also received favorable evaluations in vitalizing agricultural & industrial complexes, supporting SMEs’ R&D, providing supports for firms’ tailored manpower cultivation, providing buses for industrial complexes, supporting “grow-together” project.
“The province will push ahead many plans such as support of long-term and low-interest policy funds, bid information service, promotion of SMEs, cultivation of manpower in the industrial fields and vitalization of employment opportunities in agricultural & industrial complexes. These will help the province to build the “ladder of hope” for the development of SMEs and resolution of business problems.” The director of Jeonbuk’s head office of livelihoods and employment Lee Seongsoo said.
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Source: Yonhap News (Nov. 25, 2013)
** This article was translated from the Korean.