Gyeonggawon Announces Pyeongtaek Hidden Champion Contest... Applications Accepted Until the 3rd of Next Month

Gyeonggi-do Economic Science Promotion Agency Exterior View

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The Gyeonggi-do Economic Science Promotion Agency is joining hands with Pyeongtaek City to discover small and medium-sized enterprises (SMEs) in the Pyeongtaek area that possess technological capabilities and growth potential.

The agency announced on the 6th that, in collaboration with Pyeongtaek City, it will recruit four 'Hidden Champion' companies by the 3rd of next month to foster SMEs based in Pyeongtaek.

The agency will support selected companies with up to 90 million KRW per company, covering 60% of the costs for technology innovation research and development (R&D), including ▲purchase of research equipment ▲personnel wages for research staff ▲prototype production ▲intellectual property application and registration ▲testing analysis and product certification.

Eligibility requires companies to be factory-registered businesses located in Pyeongtaek as of the announcement date, with sales of 5 billion KRW or more based on the 2021 financial statements or 2022 estimated financial statements.

Companies wishing to participate can apply through the EasyBiz website and then submit the related documents by mail or visit to the Gyeonggi-do Economic Science Promotion Agency Southern Region Center Pyeongtaek Branch Office.

Kang Sung-cheon, Director of the agency, emphasized, "Through this project, we will do our best to discover companies with growth potential and help them grow into Hidden Champions leading the regional economy and, ultimately, South Korea."

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