Gwangju Chamber of Commerce Holds Meeting to Strengthen Financial Support for Local Companies

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] The Gwangju Chamber of Commerce and Industry held a 'Meeting to Support Local Companies in Overcoming Management and Financial Crises' on the 18th.

This meeting was held to understand the financial conditions and management status of local companies struggling due to rapidly changing domestic and international economic environments, and to seek practical support measures.

At the meeting, the Small and Medium Business Corporation continued to explain the 'Innovation Startup Commercialization Fund,' 'New Market Entry Support Fund and New Growth Foundation Fund,' and 'Rejump Support Fund and Emergency Management Stabilization Fund.'

The Korea Credit Guarantee Fund, Korea Technology Finance Corporation, and Gwangju Economic and Employment Promotion Agency provided guidance on financial support systems that apply preferential interest rates for small and medium enterprises and increase loan limits.

During the subsequent discussion, participating companies expressed difficulties caused by decreased sales due to economic slowdown, high interest rates, high exchange rates, and soaring raw material prices, and voiced an urgent need for financial support to maintain management and promote new business.

A representative from a company located in the Pyeongdong Industrial Complex stated, “It was a good opportunity to comprehensively understand various systems supporting funds for small and medium enterprises,”

and added, “I think it is very meaningful to have a place to form a consensus on the current status of companies and to express opinions on support measures to improve this.”

Choi Jong-man, Executive Vice President of Gwangju Chamber of Commerce, said, “Since the management conditions of local companies are not easy, we will work with related organizations to ensure that policy funds suitable for companies are linked and supported,” and added, “We will continuously listen to the voices from the field and strengthen communication to discover support that helps companies.”

About 20 people attended the meeting, including representatives from local companies, Gwangju Jeonnam Small and Medium Venture Business Administration, Small and Medium Business Corporation, Korea Credit Guarantee Fund, Korea Technology Finance Corporation, and Gwangju Economic and Employment Promotion Agency.

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