Six Jeonnam Companies Selected as ‘Global Small Giants’ This Year

4 Years of Customized Policy Support for Businesses

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Six companies in Jeonnam Province have been selected as this year’s ‘Global Small Giants’ by the Ministry of SMEs and Startups.

According to Jeonnam Province on the 29th, the selected companies are ㈜Kemport, KBM㈜, Maeil Food㈜, ㈜Prixa, Hanseong Food Agricultural Cooperative Corporation, and ㈜Bowon M&P.

These small giants in the fields of food and materials/components have an average sales revenue of 27.3 billion KRW and an average direct export amount of 6.4 million USD, showing very high potential for global growth.

With this designation, the companies will receive a package of customized support policies for four years, including ▲up to 200 million KRW support for overseas marketing programs from the Ministry of SMEs and Startups ▲up to 30 million KRW annually for Jeonnam companies’ demand-tailored autonomous programs ▲expanded loan limits and guarantee support from private financial institutions ▲preferential interest rate support for Jeonnam SME development funds (from 2% to 2.5%).

Ahn Sanghyun, Director of the Economic Energy Bureau of Jeonnam Province, said, “Global Small Giants will lead Jeonnam’s exports and drive the regional economy as an important growth engine,” adding, “We will do our best to support the growth of Global Small Giants.”

Meanwhile, ‘Global Small Giants’ are promising candidates to develop into mid-sized companies and represent an excellent cooperation model among central government, local governments, and private financial institutions, focusing on building a growth ladder for export companies and fostering Korean-style hidden champions.

Currently, including the six companies designated this time, 21 companies in Jeonnam Province are receiving support as ‘Global Small Giants’ this year.

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