'Baeknyeon Sogongin' 100 Companies Selected for the First Time... Financial and Market Support Provided

On the 5th, a Plaque Ceremony Held at 'Jelgihoek' in Jung-gu, Seoul

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Park Young-sun, MSS) and the Small Enterprise and Market Service (Chairman Jo Bong-hwan) announced on the 5th that they have selected 100 outstanding small manufacturers as the first 'Baeknyeon Sogongin' (Century-old Small Manufacturers).

Baeknyeon Sogongin are small manufacturers who have maintained their business for over 15 years in their respective fields with craftsmanship despite harsh working conditions and rapidly changing manufacturing environments. They were selected through a comprehensive evaluation of skilled techniques and growth capabilities. This selection includes small manufacturers from various industries such as machinery and metal, clothing, printing, and food products.

Selected companies will receive a Baeknyeon Sogongin certificate and certification plaque, and when utilizing specialized funds for small manufacturers to replace production facilities or introduce automation equipment, they will be supported with a 0.4 percentage point reduction in loan interest rates. Additionally, they will be given extra points when selected for support projects such as market development, which supports participation in domestic and international exhibitions and entry into online and offline malls, and product/technology value enhancement projects, which support labor costs and the use of external experts necessary for technology development.

The MSS plans to select an additional 200 Baeknyeon Sogongin this year. Small manufacturers wishing to be selected as Baeknyeon Sogongin can submit applications to one of the 34 specialized support centers for small manufacturers nationwide or to the Small Enterprise and Market Service. Furthermore, starting this year, through the public recommendation system implemented by the MSS, anyone can recommend small manufacturers around them who possess strong craftsmanship and excellent skilled techniques as Baeknyeon Sogongin.

Minister Park Young-sun attended the plaque ceremony held at 'Jel Planning' (a printing specialist company, Jung-gu, Seoul) to commemorate the selection of Baeknyeon Sogongin and stated, "Baeknyeon Sogongin will be actively fostered as a success model for small merchants alongside the century-old stores representing small merchants," adding, "We will also spare no policy support for the continuous growth of small manufacturers."

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