Daegu City Achieves 2.5 Times Target for 'Regional Industry Development Project'... Rated 'Best' by the Ministry of SMEs and Startups

Secured an Additional 1.5 Billion KRW National Subsidy Incentive in Evaluation of 14 Cities and Provinces Nationwide

The photo is from the Daegu Star Company Designation Ceremony.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] Daegu City and Daegu Technopark (Daegu TP) announced on the 26th that they were selected as S grade, the highest grade, in the '2019 Regional Industry Promotion Project Performance Evaluation' conducted by the Ministry of SMEs and Startups targeting 14 cities and provinces nationwide, securing an additional national subsidy of 1.5 billion KRW as an incentive.

The 'Regional Industry Promotion Project' is a representative regional industry promotion policy that the government focuses on to strengthen corporate competitiveness and revitalize the regional economy by supporting technology development and commercialization for region-specific specialized industries and companies. Every year, plans and performances are evaluated for 14 cities and provinces nationwide, and budgets are supported differentially.

Daegu City set last year's strategic goal for corporate fostering as 'Supporting innovative growth of local companies through activation of open innovation to nurture convergence-type specialized industries and recover the regional economy,' focusing on customized support for each stage of company growth, activation of convergence, and fostering innovative growth companies through close linkage and cooperation among local corporate support organizations.

As a result, 266 new jobs and 60.8 billion KRW in commercialization sales were created. In particular, commercialization sales exceeded the target by 156.8% despite difficult economic conditions and achieved a 35.7% increase compared to the previous year. In addition, a total of five excellent cases, including three companies and two projects, were derived to share and spread the excellent outcomes created through regional projects.

Choi Un-baek, Director of the Economic Bureau of Daegu City, emphasized, "The excellent results in this evaluation were possible because local industry, academia, research, and government worked together to overcome the crisis and collaborated to revitalize the regional economy despite difficult internal and external conditions."

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