Gyeonggi-do Certifies 200 Promising Small and Medium Enterprises This Year

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will conduct a certification project for 200 promising small and medium-sized enterprises (SMEs) within the province this year.

The promising SME certification project is a representative initiative introduced by Gyeonggi Province in 1995 to discover SMEs with high growth potential within the province, secure future growth engines, and nurture them into strong small giants that will lead job creation.

The number of certified companies in the province totaled 953, including 211 companies certified last year. The average sales of these certified companies increased from 11.7 billion KRW at the time of certification to 26 billion KRW four years later, and they created a total of 3,118 jobs, demonstrating significant achievements.

This year, the province will select a total of 200 companies, including 10 startups, 150 first-time certifications, and 40 re-certifications, targeting SMEs with more than two years of business history whose headquarters or factories are located within the province. The certification validity period is five years, and re-certification is every three years.

The province will finalize the selected companies in November after undergoing procedures such as document evaluation, legal violation checks and verification, on-site inspections, and certification review committee assessments.

This year, the province plans to increase the emphasis on business innovation efforts and expand indicators related to intellectual property rights (utility models, trademarks, design registrations, etc.), thereby broadening participation opportunities for innovative companies with various items, including those in the service sector.

A provincial official stated, "Through this certification project, we will systematically and comprehensively support the discovery of excellent SMEs within the province so that they can grow into strong small giants representing the Republic of Korea."

Meanwhile, companies wishing to participate can apply through EasyBiz (www.egbiz.or.kr) by the 31st of this month.

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