Heads of Related Agencies Convene to Promote Terrain Balance New Deal

Joint Meeting of Related Agencies for Promoting Regional Balanced New Deal Held via Video Conference

On the 2nd, Minister Park Young-sun is delivering the opening remarks at the Regional New Deal related agencies joint meeting.

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Park Young-sun, hereinafter referred to as the Ministry) and related organizations put their heads together for the success of the regional balanced New Deal. On the 2nd, the Ministry announced that Minister Park Young-sun held a communication session via online video with regional innovation organizations such as the Regional Small and Medium Venture Business Administration (hereinafter referred to as Regional Administration), Technoparks, and Creative Economy Innovation Centers (hereinafter referred to as CEICs), which are partners in the innovative growth of local companies.

This meeting was arranged as a follow-up measure to the 'Regional Innovation SME Development Strategy' announced on the 26th of last month, aiming to share the roles and key promotion directions of each organization for the successful implementation of the regional balanced New Deal and to exchange various opinions from the region.

On this day, Minister Park Young-sun encouraged the regional innovation organizations that have played a supporting role in the local economy despite difficult conditions such as the novel coronavirus disease (COVID-19), stating, "For the successful establishment of the regional balanced New Deal, the roles of the Regional Administration, Technoparks, and CEICs are more important than ever. Each organization must cooperate mutually to serve as a growth ladder for local SMEs."

Minister Park also emphasized the importance of the roles of the heads of regional innovation organizations attending the meeting, urging, "Let us establish a support system for the government, local governments, and regional innovation organizations to efficiently support local SMEs and strive for the success of the regional balanced New Deal through this."

The heads of regional innovation organizations such as the Regional Administration, Technoparks, and CEICs attending the meeting conveyed difficulties experienced on the ground while promoting the regional balanced New Deal, along with various regional suggestions. In particular, they requested expanded financial support and an increase in the matching ratio of the mother fund when creating regional funds to ensure smooth progress of key regional projects.

In response, Minister Park said, "Through this measure, we have reorganized 48 regional key industries linked to the regional balanced New Deal, and along with the establishment of the regional New Deal venture fund for the growth of local companies, we plan to support technology development and commercialization funds worth 1.4 trillion KRW over the next five years." He added, "We will carefully review the difficulties and suggestions felt in the region and promptly prepare solutions for those that can be immediately improved or implemented." He further emphasized, "Now that the regional innovation SME development strategy to promote the regional balanced New Deal has been prepared, I hope that the Regional Administration, Technoparks, CEICs, and other regional innovation organizations, as partners of local SMEs, will demonstrate the power of connection through mutual cooperation for successful implementation."

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