Changwon City Extends Financial Support for Doosan Heavy Industries' In-House Partner Companies

Meeting with the Executive Members of the Doosan Heavy Industries & Construction Partner Companies Council

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] On the 12th, Changwon City in Gyeongnam held a meeting with the executives of the Doosan Heavy Industries subcontractor council and promised to extend support for small and medium enterprise (SME) development funds to help alleviate corporate financial difficulties.

The SME development fund support is a program that subsidizes 2.0%P of the interest incurred on new loans from affiliated financial institutions for two years, aimed at SMEs that need funds for business management and facility investment.

The loan limit per company is up to 300 million KRW for management stabilization funds and 500 million KRW for facility funds. Even with overlapping support, the total limit per company cannot exceed 500 million KRW.

For Doosan Heavy Industries in-house subcontractors, separate factory registration is not possible, making it difficult to allocate loan limits for SME development funds despite the hardships caused by COVID-19. However, since 2019, they have been included in the city's SME development fund support targets and have received financial support.

This year as well, the loan support is expected to be extended to help with financial liquidity.

Mayor Heo Seong-mu said, “Due to changes in government energy policies and domestic and international economic downturns, companies related to the existing nuclear industry are facing great difficulties,” adding, “We will spare no effort to secure liquidity for these companies and strengthen industrial competitiveness.”

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