15 Small Giants Selected to Lead Busan Service Industry Innovation, Supported for 5 Years of Growth

Certificate Award Ceremony at Busan City Hall on April 27 at 10:30 AM

Support for Customized Corporate Growth, Self-Directed Development, and Preferential Loan Interest Rates

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Fifteen promising small and medium-sized enterprises (SMEs) leading innovation in the service industry in the Busan area have been selected and will receive systematic support.

Busan City (Mayor Park Hyung-joon) announced that on the 27th at 10:30 a.m., certificates will be awarded to the 15 companies selected as service SMEs at the 26th-floor conference room of City Hall.

Since 2016 until last year, Busan City has selected and intensively nurtured 85 companies with competitiveness and growth potential in focused service industry sectors such as business services, video and content, tourism and MICE, logistics, information and communication technology (ICT), finance, and medical services.

This year, after comprehensively considering factors such as corporate growth potential, innovation, and economic feasibility, 15 companies were finally selected through an evaluation by the selection committee from 44 applicants.

Service SMEs will be certified for the next five years. In the first year after selection, ‘customized corporate support’ such as corporate promotion consulting and patent registration support will be provided. From the second to fifth years, the SMEs will diagnose their own corporate status, evaluate growth nurturing models, and receive ‘self-directed growth support projects.’

Additionally, they will receive support such as small business funding and preferential interest rates, as well as preferential treatment for excellent companies and public project applications.

Busan Mayor Park Hyung-joon said, “Despite the ongoing difficulties faced by the service industry due to COVID-19, many companies applied for the service SME selection, allowing us to select outstanding companies.”

He also stated, “We will provide systematic and continuous support so that the selected service SMEs can grow into companies that lead change and innovation in the regional service industry.”

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