ULSAN < invest Korea

On June 14, Ulsan City announced it will pursue support projects to foster region-specific industries.

This entails the city and the Ministry of SMEs and Startups investing KRW 6 billion toward 19 projects that will increase the competitiveness of SMEs to create more jobs in the region, as well as increase corporate revenues.

Not only will the project cover the region's 4 flagship industries (eco-friendly automotive parts, shipbuilding and offshore plants, new high-tech chemical materials and eco-friendly energy), but also the biomedical and 3D printing industries.

In addition, a regional innovation growth voucher support project was introduced for the first time so companies can select service providers and period of support on their own terms.

The voucher project will support about 25 companies this year as part of a key regional support program for prototype production.

The beneficiary company can used the voucher for tasks such as technology development and commercialization within the limit of the voucher (up to KRW 30 million) at the desired time, with the desired supplier.

Through this project, the city hopes to stimulate the creation of new jobs and the economy as a whole, and strengthen the technological competitiveness of regional companies.

jhc@newsis.com

Source Text

Source: Newsis (June 14, 2018)

** This article was translated from Korean.