Gyeonggi-do Invests 21.4 Billion KRW in 'Small-Scale Business Environment Improvement Project'

Support for a Total of 473 Projects in 31 Cities and Counties

Gyeonggi Provincial Government Northern Office

[Asia Economy Reporter La Young-cheol] Gyeonggi Province announced on the 26th that it will collaborate with 31 cities and counties within the province this year, investing a total of 21.4 billion KRW to promote the "2022 Small-scale Enterprise Environment Improvement Project."

According to the province, this project aims to resolve various corporate difficulties and consists of four areas: ▲infrastructure improvement ▲labor environment improvement ▲knowledge industry center labor environment improvement ▲work environment improvement.

Previously, the province conducted a demand survey for the 2022 project from August to September last year, followed by on-site investigations and project selection reviews, deciding to support a total of 473 projects in 31 cities and counties.

Accordingly, this year, out of the total project cost of 21.4 billion KRW, 7 billion KRW will be supported by provincial funds, which is an increase of 1.5 billion KRW compared to last year's 5.5 billion KRW.

Under the 'infrastructure improvement' project, facilities such as road expansion and paving, water supply and sewage, and small bridges in areas densely populated with small and medium enterprises will be maintained.

'Labor environment improvement' involves the installation and repair of dormitories, cafeterias, restrooms (including shower and laundry rooms), and rest areas for manufacturing companies with fewer than 200 employees.

'Knowledge industry center labor environment improvement' supports the repair and maintenance of parking lots (including parking facilities), restrooms, outdated machine rooms, and fire safety facilities in knowledge industry centers within the province that have been completed for more than 10 years.

'Work environment improvement' provides support for repair costs of floors, ceilings, walls, workbenches, ventilation and dust collection devices, LED lighting, and fire safety facilities in small manufacturing companies with fewer than 50 employees.

Selected companies can receive up to 70% of the total project cost depending on the category. However, micro-enterprises with fewer than 10 employees will have their self-payment ratio reduced by 10%, allowing up to 80% project cost support.

Especially this year, considering the expansion trend of the non-face-to-face economy system, new support has been added for digitalization of small and medium enterprises, including the establishment of video conference rooms, installation of wireless fire detectors, and construction of conveyor workbenches.

Ryu Gwang-yeol, Director of the Economic Office, stated, "This year, we plan to reduce the corporate self-payment ratio from 30-40% to 20-30%, increase the support limit for dormitory construction in the labor environment sector from 30 million KRW to 50 million KRW, and focus on alleviating the financial burden and manpower shortage of small and medium enterprises."

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