Jinju City Strengthens Policy and Project Support to Revitalize Regional Specialized Industries...

Up to 3 Million KRW Logistics Cost for Silk Companies
Support for Overseas Market Expansion and Technology Advancement Projects

Jinju Silk Fashion Show
[Image Source=Jinju City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, announced on the 31st that it will implement measures to revitalize local specialized industries, such as supporting logistics costs, pioneering overseas markets, and developing technologies, to assist silk companies struggling with management difficulties due to the prolonged COVID-19 pandemic.

Jinju Silk, a traditional industry with over 100 years of history, is accelerating diversification and technological advancement of its products by moving away from standardized items like hanbok, scarves, and neckties, and recently utilizing convergence with ceramics and bio industries to create fireproof screens, silk cosmetics, and silk crafts.

Accordingly, the city has prepared various support projects to inject vitality into the shrinking silk industry environment by fully supporting differentiated silk product production and new attempts toward high value-added industries.

The support includes ▲ quarterly support of 3 million KRW for domestic logistics costs ▲ booth fee support for participation in domestic and international exhibitions ▲ support for Jinju Silk overseas antenna shops ▲ and active promotion of various support projects to strengthen competitiveness through diversification and advancement efforts of Jinju Silk.

Additionally, the city plans to strengthen policy and business support for high value-added silk industry by ▲ conducting on-site consulting visits ▲ supporting silk company branding and e-commerce commercialization ▲ supporting local brand product development projects ▲ developing products using silk composite materials ▲ and developing silk-bio anti-aging functional products.

The city expects that by implementing these local specialized industry revitalization measures, it will not only raise the internal and external awareness of Jinju Silk but also contribute to the actual sales increase of silk companies through product development and commercialization based on various research and attempts utilizing the characteristics of silk materials.

A city official stated, “We will do our best to alleviate the economic burden on silk companies amid the prolonged COVID-19 recession, thereby contributing to employment retention and revitalization of the local economy to some extent.”

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