Gyeongbuk Province Selects 15 Promising SMEs as 'Star Companies'

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Gyeongbuk Province will hold the '2021 Gyeongbuk Regional Star Company Designation Certificate Award Ceremony' at the provincial office on the 7th.

The Star Company Development Project is hosted by the Ministry of SMEs and Startups and Gyeongbuk Province, and organized by Gyeongbuk TP. It is a project to nurture companies with regional growth potential into strong small and medium enterprises.

Through a recruitment announcement in February, after eligibility review, on-site inspection, and presentation evaluation, 15 companies were finally selected: Gyeongdo Industrial, Damtta Fresh, Myeongsan, Saehaeseong, MD Industry, Yeongnam Technology, Yes Korea, Yongjin, G-Tech, Korea Food, Koa System, Taesan, Pro Green Tech, Handok, and Hanseung Chemical.

By main industry, 7 companies were selected in advanced new material parts processing, 4 in eco-friendly convergence textile materials, 2 in intelligent digital devices, and 2 in life care beauty. Their average sales last year were 14.7 billion KRW, average export amount was 4.6 billion KRW, and average employment was 43 people.

Companies selected as 2021 Gyeongbuk Regional Star Companies will receive support programs worth up to 45 million KRW, including growth strategy establishment for mid- to long-term item discovery, marketing strategy establishment, R&D planning, and dedicated PM consulting. Next year, they plan to support technology development funds worth up to 400 million KRW.

The Star Company Development Project started in 2018 and has selected and supported 46 companies up to last year. In particular, three companies?IJS, Nature Farm, and Ace Nanocam?have grown into global strong small and medium enterprises. One Biogen is systematically supported at each growth stage, including its listing on KOSDAQ this year.

Governor Lee Cheol-woo said, "I express my gratitude to the small and medium enterprises that are enduring despite difficulties caused by the COVID-19 crisis," and added, "To overcome the crisis, we will continue to select star companies this year and spare no support to enhance companies' technological capabilities and growth potential."

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