Gyeonggi Province and Samsung Electronics Join Hands to Strengthen Competitiveness of Small and Medium Enterprises

[Asia Economy Reporter Dongwoo Lee] Gyeonggi Province is strengthening the competitiveness of small and medium-sized manufacturing companies in the province in collaboration with Samsung Electronics to respond to the new economic environment, including technology and market changes, caused by the COVID-19 pandemic.

On the afternoon of the 30th, Gyeonggi Province Governor Lee Jae-myung and Samsung Electronics CEO Kim Hyun-suk signed the "Gyeonggi Province-Samsung Electronics Business Agreement for Win-Win Cooperation between Large Corporations and Small and Medium Enterprises" at the Gyeonggi Provincial Government Situation Room.

This agreement aims to build a mutually complementary cooperative relationship by sharing not only simple technical support but also the experience, capabilities, and innovation know-how possessed by large corporations with small and medium-sized enterprises, based on the core value of "fairness" of the 7th term of the provincial government.

According to the agreement, Gyeonggi Province and Samsung Electronics plan to cooperate in promoting a total of seven projects in three areas from next year until 2022: creating a smart working environment, establishing a platform for sharing excellent technologies, and supporting market development for outstanding companies.

Gyeonggi Province expects this agreement to become a new model for co-growth and the establishment of a fair economy system between companies, leading to increased technological competitiveness and productivity of small and medium-sized enterprises and resulting in tangible profit creation.

Governor Lee Jae-myung said, "The economy is like an ecosystem, and the primary ecosystem must be well maintained for the overall economic ecosystem to remain healthy. It is important for large corporations to perform well independently, but it is truly valuable to coexist and cooperate fairly. Only then can large corporations achieve sustainable growth."

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