ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) Ulsan City announced June 12 that it will focus on developing six regional small- and medium-sized companies (SMEs) that were selected by the Small and Medium Business Administration to enhance the competitiveness of regional hidden champions.

Six companies include SIS Co., Ltd., Jeil Chemical Co., Ltd., Chin Yang Chemical Corporation, , Shinhwa Tech Co., Ltd., NET Co., Ltd. And Hohyun Co., Ltd.

The Ulsan Economic Promotion Agency will be the project developer and the city will provide KRW 300 million of national expenses for three years to each company.

The target SMEs for the project should be SMEs in the non-metropolitan areas where their annual sales are between KRW 10 billion to 100 billion, their direct and indirect exports are more than 10 percent of the sales and their investment in the research and development is more than 1 percent for three years.

leeyoo@yna.co.kr

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