Nine New Global Small Giants Designated in Gyeongbuk Region... Up to 500 Million KRW Support for R&D Expenses

Daegu-Gyeongbuk Small and Medium Venture Agency Award Ceremony

Hana Textile, Youngjin, Jungwon, Bogeun, etc.

Gyeongbuk Province held a certificate awarding ceremony on the 4th at the Daegu-Gyeongbuk Regional Small and Medium Venture Business Administration, as nine companies in the province were selected for the Small and Medium Venture Business Ministry's Global Strong Small and Medium Enterprise 1000+ Project at the Strong Stage.

The certificate awarding ceremony was attended by representatives and executives of 19 companies selected at the Strong Stage under the jurisdiction of the Daegu-Gyeongbuk Regional Small and Medium Venture Business Administration (9 from Gyeongbuk, 10 from Daegu), local government officials, and representatives from innovation institutions.

Gyeongbuk Provincial Government Office.

The Global Strong Small and Medium Enterprise 1000+ Project is a program that supports small and medium enterprises to nurture them into leading overseas companies. It integrates the previously separate designation systems of Global Strong Small and Medium Enterprises, Export Promising Small and Medium Enterprises, and Export Dream Enterprises, and has been promoted since this year.

The project operates by dividing companies into four tracks based on export scale (Promising → Growth → Strong → Strong+). The companies receiving certificates this time are designated at the third track, the Strong Stage, which includes companies with export amounts exceeding 5 million USD last year.

In terms of export amounts, the categories are Promising (100,000 to 1 million USD), Growth (1 million to 5 million USD), Strong (over 5 million USD), and Strong+ (over 10 million USD).

The designated companies in Gyeongbuk are Hana Textile (Seongju), Sewon Hightech (Chilgok), Youngjin (Yeongcheon), Seowon Tech (Gyeongsan), Bogeun (Gyeongsan), Jungwon Industry (Gyeongsan), Hoseong ABO (Gyeongju), J&Co Shoe (Gyeongsan), and Gyeongrim Tech (Gyeongsan).

The newly designated Global Strong Small and Medium Enterprises are companies whose sales have steadily increased and have presented concrete export diversification strategies such as product development tailored to localization, showing promising growth potential in the global market.

The nine newly designated companies this year can select service providers from 13 types of overseas support menus and use export support services until the end of next year.

Moreover, they will receive preferential treatment in export finance and guarantee support, favorable interest and foreign exchange transaction conditions, and support for participation in exhibitions, prototype production, promotion, and advertising through Gyeongbuk Province's regional autonomous programs.

In particular, companies selected at the Strong Stage can receive up to 500 million KRW annually in research and development expenses through a dedicated R&D track.

Lee Young-seok, Director of the Economic Industry Bureau of Gyeongbuk Province, said, “Although companies in the province are facing difficulties due to the global economic downturn, there is still great potential if they look overseas. Gyeongbuk Province will cooperate with the Ministry of SMEs and Startups and related organizations to support companies to turn this crisis into an opportunity and grow into global hidden champions.”

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