Gyeongnam Province, 9 Village Enterprises Finally Selected in Ministry of the Interior and Safety Review

Qualification for support including a total project fund of 300 million KRW, management consulting, and market access assistance

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Choi Hyun-joo] Gyeongnam Province announced on the 1st that nine companies were selected in the '2020 2nd Ministry of the Interior and Safety Village Enterprise Designation Review.'

Village enterprises are village-level companies that solve common local problems and create income and jobs through profit-making businesses utilizing various local resources. They are recommended through provincial reviews every year and finally selected through the Ministry of the Interior and Safety's review.

In May, the province selected nine preliminary village enterprises through a provincial review of 24 applications received through the village enterprise designation contest, and recommended a total of nine companies to the Ministry of the Interior and Safety, including new (1st year), re-designated (2nd year), and advanced (3rd year) enterprises.

As a result, all nine recommended companies were selected, with Gimhae City having four companies and Geochang County following with two companies.

Once designated as a village enterprise, they receive project funds of 50 million KRW for new designation, 30 million KRW for re-designation, and 20 million KRW for advancement. They are also granted the qualification to participate in 'management consulting' from village enterprise support organizations and 'market support projects' hosted by the Ministry of the Interior and Safety and the province.

Jang Jae-hyuk, head of the Gyeongnam Province Social Economy Promotion Team, said, "In the future, to substantially increase sales of social economy enterprises struggling due to COVID-19, we will expand online store support and offline markets."

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