Gyeongnam Province Reduces Energy Costs for SMEs with Customized Diagnostics

Energy Diagnosis Cost Support up to 1.13 Million KRW, Facility Improvement Cost Support up to 13 Million KRW

Gyeongnam Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 24th that it will promote the 'Small and Medium-sized Enterprises Energy Diagnosis and Improvement Support Project' together with the Korea Energy Agency Gyeongnam Regional Headquarters.

The Small and Medium-sized Enterprises Energy Diagnosis and Improvement Support Project is a program that proposes energy cost reduction measures to small and medium-sized enterprises in the province and aims to achieve practical energy cost reduction and enhance corporate competitiveness.

The province supports the cost of energy diagnosis tailored to companies and the facility improvement costs for equipment with significant energy-saving effects based on the diagnosis results.

This year, the support targets and amounts have been greatly expanded compared to last year, providing 1.13 million KRW for energy diagnosis costs and up to 13 million KRW (with at least 30% self-payment) for facility improvement costs to 20 small and medium-sized enterprises.

Last year, up to 7 million KRW was supported for facility improvement costs for 12 small and medium-sized enterprises.

Eligibility for application is for small and medium-sized manufacturing companies with energy usage of less than 10,000 toe in the previous year (2020), regardless of industry.

Companies wishing to apply can download the application form from the Gyeongsangnam-do and Korea Energy Agency websites and submit it via fax, mail, or email.

Cho Hyun-jun, Director of the Industrial Innovation Bureau of Gyeongnam Province, said, "We hope that the greatly increased energy diagnosis targets and facility improvement costs for small and medium-sized enterprises this year will help corporate management," and added, "We will continue to discover and foster energy policies that companies want and can feel."

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