Gwangju City Announces 2020 Excellent Small and Medium Enterprise Awards Competition

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 28th that it will recruit candidates for the '2020 Gwangju Metropolitan City Excellent Small and Medium Enterprise (SME) Entrepreneur Award' to boost the morale and pride of small and medium business owners.

The target candidates are representatives of small and medium enterprises engaged in manufacturing with their headquarters and factories (main offices) located in Gwangju for more than three years as of the announcement date.

Gwangju City plans to select about five recipients through document screening, on-site inspections, and evaluation by a judging committee.

The evaluation will be conducted based on quantitative assessments such as the company's financial soundness, business performance, job creation, and technology development, as well as qualitative assessments in areas including employee welfare, labor-management cooperation, environmental improvement, and volunteer activities.

Since 2012, Gwangju City has annually selected excellent SME entrepreneurs, awarding them plaques and providing various benefits such as increasing the limit for management stabilization funds (from 300 million to 500 million KRW) and a three-year exemption from local tax audits.

Companies wishing to apply or institutions wishing to recommend candidates can download the submission form from the Gwangju City website, complete it, and submit it in person at the Gwangju City Enterprise Promotion Division or by mail by the 21st of next month.

Jung Chang-gyun, head of the city's Enterprise Promotion Division, said, “Despite continuous adversities such as the prolonged COVID-19 pandemic and heavy rains, SME entrepreneurs are becoming the core driving force of regional economic development through their indomitable will and efforts. We will continue to actively discover and support excellent SME entrepreneurs contributing to the development of the local economy.”

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