Gyeongbuk Province Identifies and Supports 300 Leading Venture Companies with Core Technologies

Gyeongbuk Provincial Government Office Exterior Image (Photo by Gyeongbuk Provincial Government)

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Yushin] Gyeongsangbuk-do announced on the 9th that it will discover and intensively nurture 300 venture companies equipped with core technology and competitiveness by 2024.

To this end, Gyeongbuk plans to activate private capital investment by raising 65.7 billion KRW, including the Gyeongbuk Happy Enterprise Innovation Fund of 45 billion KRW, the Local Win-Win Job Creation Investment Fund of 16.7 billion KRW, and the Creative Economy Fund of 4 billion KRW.

In addition, the venture company development fund will be increased to 10 billion KRW to expand loan support, and participation in startup investment matching for domestic and overseas market channels and overseas market entry, as well as the Venture Association international expo, will be promoted.

To strengthen the competitiveness of small and medium venture companies, various support measures will be prepared, including 2.5 billion KRW for research and development and development of core parts and materials related to Japanese export regulations, 27.4 billion KRW for youth job projects, and 2 billion KRW for technology development.

Lee Cheol-woo, Governor of Gyeongbuk Province, said, "We will actively implement support measures so that venture and startup companies with innovative capabilities can boldly challenge and continuously grow."

This content was produced with the assistance of AI translation services.