Jeonbuk Province Selects 15 Companies for Top Manufacturing Support Program

Jeonbuk Technopark.

[Asia Economy Honam Reporting Headquarters Reporter Kim Tae-in] Jeonbuk Province announced on the 7th that it has completed the selection process for 10 ‘Leading Companies’ and 15 ‘Leap Companies’ for this year’s top manufacturing support program, ‘Small and Medium Enterprise Growth Ladder Development,’ in collaboration with the Jeonbuk Technopark Foundation.

The 10 companies selected as Leading Companies this year are ▲Neo Crema Co., Ltd. ▲Hi-El Co., Ltd. ▲Eomji Food Co., Ltd. ▲Inix Co., Ltd. ▲Jinhung Casting Co., Ltd. ▲Korea Advanced Railroad System Co., Ltd. ▲K-Net Co., Ltd. ▲Daewang Paper Industry Co., Ltd. ▲DS&P Co., Ltd. ▲Agricultural Corporation Cheongmaek Co., Ltd.

The 15 companies selected as Leap Companies are ▲Blue Biz Co., Ltd. ▲Widel Materials Co., Ltd. ▲Kai Tech Co., Ltd. ▲BKC ▲Kara Co., Ltd. ▲D-Sol Co., Ltd. ▲National C&D Co., Ltd. ▲ST One (Ltd.) ▲Dami Polychem Co., Ltd. ▲P&L Semi Co., Ltd. ▲N Seating Co., Ltd. ▲PSB Bio Co., Ltd. ▲Palbok Industry Co., Ltd. ▲SJ Cheonha Co., Ltd. ▲Safe Wear Co., Ltd.

The newly selected Jeonbuk Leading and Leap Companies will receive focused support through detailed programs under each development project.

Leading Companies are designated for five years and, until the designation period ends in 2024, will receive support for technology development, resolution of on-site technical difficulties, marketing, customized consulting, as well as support for recruitment platforms, in-house startups, and leadership innovation capacity-building programs.

Leap Companies are designated for three years and, until the designation period ends in 2022, will receive support for technology development, customized growth programs, and the establishment of growth strategies to enter the Leading Company tier.

One of the companies selected as a Leading Company this year, Neo Crema Co., Ltd. (CEO Kim Jae-hwan), focuses on peptide products and functional sugar food additives. It is a food material company growing based on strong technology in the ‘microbiome,’ which refers to intestinal microorganisms, and received the Presidential Citation at the Korea Technology Awards last year.

Safe Wear Co., Ltd. (CEO Bae Kyung-ran), selected as a Leap Company, is a specialist company in fall protection clothing pioneering new markets in safety systems. It participated in CES 2020, the international consumer electronics show, and was selected as one of the ‘Next Startups Top 3’ by the IEEE, the largest electrical and electronics engineering society in the U.S., and is growing rapidly through the development of wearable airbags.

A representative from Jeonbuk TP said, “The 15 companies selected as Leap Companies in Jeonbuk Province will be provided with focused support and management to quickly establish a foundation to leap into Leading Companies. We will also provide systematic support to the 10 Leading Companies to ensure that the Jeonbuk Province SME Growth Ladder can serve as a tangible support system for local companies.”

The 25 companies selected as Jeonbuk Leading and Leap Companies will be nurtured to grow based on the Jeonbuk SME Growth Ladder support system through focused support and management during the designation period, enabling them to advance to higher-level projects (Leading Companies and Global Small Giants). The province plans to continuously select Leading and Leap Companies to build the growth ladder.

Na Seok-hoon, Head of the Jeonbuk Province Job and Economy Headquarters, stated, “Leading and Leap Companies are the central axis of the Jeonbuk SME Growth Ladder system. We will spare no support for the Jeonbuk Growth Ladder Development Project to ensure that manufacturing SMEs continuously serve as growth hubs for the regional industrial economy and grow from local companies into national enterprises.”

Meanwhile, Jeonbuk Province is proactively improving the support system for the Growth Ladder Company Development Project (Leading, Leap, and Emerging Companies) by lowering the corporate self-payment rate, expanding labor costs support for research personnel, and prepaying corporate subsidies to assist companies facing cash flow difficulties due to COVID-19, such as operating expenses and maintaining research personnel.

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