Incheon Songhyeon and Songnim-dong Designated as 'Small Business Cluster District'... Establishment of Shared Infrastructure

[Asia Economy Reporter Park Hyesook] The area around Songhyeon and Songnim-dong in Dong-gu, Incheon has been designated as a 'Small Business Cluster District' and will establish shared infrastructure facilities.

Incheon City announced on the 10th that it secured 1.5 billion KRW in national funding after being selected in the Ministry of SMEs and Startups' 'Small Business Cluster District Designation and Shared Infrastructure Construction Project' competition.

In February, the city conducted a feasibility study for building shared infrastructure for small businesses, and in April submitted a project proposal titled 'Establishment of Incheon Material and Component Equipment Industry Hub Complex' targeting the Songhyeon and Songnim-dong areas in Dong-gu to the Ministry of SMEs and Startups, resulting in final selection.

Following the selection in the competition, the Songhyeon and Songnim-dong area will be designated as the region's first Small Business Cluster District. With a total budget of 3 billion KRW from national and city funds, infrastructure such as shared equipment, training centers, meeting rooms, and production product exhibition and sales spaces will be established and are planned to be operational starting next year.

Small businesses refer to manufacturing companies with fewer than 10 regular employees, concentrated in a specific area, characterized by labor-intensive work and skilled technology, as defined under the 'Special Act on Support for Urban Small Businesses.'

Kim Sangseop, Head of the Job Economy Headquarters of Incheon City, stated, "We will build shared infrastructure to promote the organization and collaboration of small businesses, activate the cluster district, and enhance competitiveness. As this is the first designation of a Small Business Cluster District in Incheon, we will actively support the fostering of small businesses, which are the foundation of manufacturing."

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