Gyeongju City Supports Logistics Costs of 5 Million Won Each for 40 Small and Medium Enterprises

Gyeongju City is recruiting participating companies for the ‘Small and Medium Enterprise Logistics Cost Support Project’ to alleviate the burden of transportation costs incurred during domestic distribution.

Gyeongju City will invest 200 million KRW in budget to support logistics costs of up to 5 million KRW per company (10% of transportation costs) for about 40 small and medium enterprises.

Gyeongju City Hall.

This project was prepared to stabilize the management of small and medium enterprises struggling with the global economic downturn and increased logistics costs due to worldwide inflation and economic slowdown.

Eligibility requirements include manufacturing SMEs with headquarters or factories located in the Gyeongju area, and annual logistics costs of at least 30 million KRW according to the 2022 financial statements.

The application period is from the 12th to the 25th of this month. Participating companies will be selected in order of highest scores based on evaluation criteria such as eligibility screening and quantitative assessment, and individual notifications will be made in September. If selected as a supported company, logistics costs will be subsidized between October and November.

Gyeongju City expects this project to strengthen the domestic market competitiveness of participating companies and overcome the contraction in the perceived economy caused by the global economic downturn.

Kim Taeha, Director of the Investment and Industry Division of Gyeongju City, said, “Due to the continued rise in consumer prices and labor costs, the local economic outlook is also showing a downward trend,” adding, “We hope that the logistics cost support project will help improve the management conditions of small and medium enterprises and revitalize the local economy.”

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