Gimhae City Selects 20 Companies as '2021 Gimhae-Type Small Giants'

Gimhae City, Gyeongnam, awarded certificates to the representatives of 20 companies selected as Gimhae-type Small Giants in 2021. [Image source=Gimhae City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Gimhae City, Gyeongnam announced on the 11th that it has selected 20 Gimhae-type Small Giant Companies in 2021.

Since 2019, the city has been discovering and nurturing 100 leading local industry companies with innovation and growth potential over four years, selecting 20 companies annually.

This year as well, companies headquartered or with their main business site in Gimhae, with an average sales revenue of 2 billion KRW or more (500 million KRW or more for knowledge-based service industries) and less than 40 billion KRW over the past three years, were subject to document evaluation and in-depth assessment by evaluation experts to select the final 20 companies.

Companies selected as Gimhae-type Small Giant Companies can receive administrative and financial support from the city and six financial and related institutions within the province.

Specifically, the city provides 50 million KRW in dedicated funds, NongHyup and Gyeongnam Bank offer loan interest rate benefits up to 1.2%, and the Korea Technology Finance Corporation provides guarantee support and reduces guarantee fees by up to 0.3%.

Additional benefits include business support consulting and priority designation as promising SMEs by the Gyeongnam Small and Medium Business Administration, preferential interest rates on policy funds from the Small and Medium Business Corporation, and priority selection for export support projects and export consultation support from KOTRA.

Mayor Heo Seong-gon stated, “We will spare no administrative and financial support so that our companies can grow beyond Gimhae-type Small Giant Companies into world-class enterprises.”

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