Jinju City Establishes Gyeongnam Innovation Startup Association to Support Investment Attraction for Startup Companies

Permission Granted for Gyeongnam Innovation Startup Association Establishment
[Photo by Jinju City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City in Gyeongnam announced on the 6th that the Gyeongnam Innovation Startup Association, a non-profit organization that will connect central government departments and local startup companies in the field of technology startups, has received establishment approval from the Gyeongnam Regional Small and Medium Venture Business Administration.

The Gyeongnam Innovation Startup Association includes 80 startup companies in the province, including 51 companies in Jinju city, as member companies.

The Gyeongnam Innovation Startup Association, which aims to promote stable growth of companies through information exchange and cooperation among startup companies, is expected to play a significant role in spreading the startup enthusiasm in the relatively underdeveloped western region of Gyeongnam.

The Gyeongnam Innovation Startup Association had been preparing for establishment approval since January 2020, but the approval process was sluggish due to regional concentration of participating companies.

Accordingly, Jinju City proposed an institutional improvement through the Small and Medium Business Ombudsman, suggesting that related laws serving as the basis for establishment should be amended to a mandatory provision that grants approval once establishment requirements are met, and this proposal was accepted.

Kim Byung-moo, Director of the Economic and Trade Bureau, said, “We are very pleased that a non-profit organization related to startups has been established in the region,” and added, “Taking this opportunity, the private sector and the city will actively consider and promote various forums, investment attraction activities, and startup idea competitions.”

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