Jungjingong Wins National Balanced Development Award for Two Consecutive Years

Contributions to Supporting Youth Startup Relocation and Rapid Support for SMEs in COVID-19 Crisis Areas

At the 17th Anniversary Ceremony of the National Balanced Development Declaration, Kim Hak-do, Chairman of the Korea Institute for Advancement of Technology (third from the left), and Kim Sa-yeol, Chairman of the National Balanced Development Committee (second from the left), are taking a commemorative photo.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 23rd that it received the National Balanced Development Award from the National Balanced Development Committee (Chairman Kim Sa-yeol, hereinafter referred to as NBDC).

With this, SBC set a record as the first public institution to win the National Balanced Development Award for two consecutive years. This year, it was recognized for its achievements in revitalizing the local economy and creating jobs through support for relocating youth startup companies to underdeveloped areas and a rapid support program for local SMEs amid the COVID-19 crisis.

An NBDC official stated, "SBC was highly evaluated for its contribution to regional balanced development policies by proactively supporting the relocation of youth startup companies through projects such as the Gangwon Next Unicorn Project, and for its prompt response to the demands of local SMEs struggling due to COVID-19."

The Gangwon Next Unicorn Project is a program that supports the relocation of innovative youth startups to abandoned mining areas. SBC selects three companies graduating from the Youth Startup Academy each year and provides relocation funds of up to 1 billion KRW for moving to the Gangwon abandoned mining areas. In the first round in 2019, among 125 applicants nationwide, Artis & Ocean, NextOn, and Jewoo Technology were selected, and last year, among 81 applicants, Blue Motion Tech, Jin's Lab, and Dongnam Megatech were finally selected.

Additionally, SBC increased the scale of emergency management stabilization funds for local SMEs facing liquidity crises amid the COVID-19 situation by 1.2 trillion KRW compared to the beginning of the year and introduced a non-face-to-face evaluation method to improve accessibility, ensuring rapid liquidity supply.

Chairman Kim Hak-do said, "Small and medium ventures, the mainstay of the regional economic ecosystem, are the innovative driving force leading the 4th Industrial Revolution, carbon neutrality, and regional innovation," adding, "SBC will establish a regional innovation growth model that reflects both government and local demands and take the lead in revitalizing the local economy and creating jobs."

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