Regional Specialized 'Legend 50+' Integrated Announcement... Ministry of SMEs and Startups "Will Spare No Support"

Promotion with 17 Metropolitan Local Governments Nationwide
Budget Scale of 6 Support Projects 840 Billion KRW Over 3 Years

The Ministry of SMEs and Startups announced on the 10th that it will issue an integrated announcement for six support projects of the regional specialization project ‘Legend50＋,’ which is being promoted together with 17 metropolitan local governments, on the 11th.

On the 20th of last month, attendees are taking a commemorative photo at the 'Legend 50+' regional meeting held in the large conference room on the 2nd floor of the Ulsan Technopark Automotive Parts Technology Research Institute, chaired by Oh Ki-woong, Vice Minister of the Ministry of SMEs and Startups.
[Photo by Ministry of SMEs and Startups]

Legend50＋ is a policy aimed at the innovative growth and competitiveness enhancement of regional small and medium enterprises (SMEs). So far, the 17 metropolitan local governments have selected 1,354 regional SMEs to participate in 21 region-specific projects they planned themselves through online and offline briefings, participation announcements, and evaluations, as of the 23rd of last month. Subsequently, the 13 regional Small and Medium Venture Business Administrations nationwide held the ‘Regional SME Support Council’ at the end of last month to review the appropriateness of the participating companies selected by the local governments and finalized the original plan.

This integrated announcement for support projects will be conducted targeting the 1,354 companies selected as participants in Legend50＋. The budget scale for the six support projects is 278 billion KRW this year and about 840 billion KRW over three years.

Various preferential benefits apply to companies participating in Legend50＋. When applying for the Innovation Voucher project, the ‘diagnosis and evaluation’ such as on-site evaluation is omitted, and the eligibility criteria are relaxed so that the sales standard of small enterprises with an average of less than 12 billion KRW over three years does not apply. For policy funds, the policy priority evaluation is exempted during the selection evaluation, and the number of documents submitted at the company screening stage is reduced from 29 to 15. In addition, document evaluations are omitted in areas such as startup-focused universities, smart factories, and regional core industry promotion.

Detailed information can be found on the websites of the Ministry of SMEs and Startups and the Korea Technology and Information Promotion Agency for SMEs.

Kim Woo-jung, Director of Regional Enterprise Policy at the Ministry of SMEs and Startups, said, “We will spare no support to ensure that the 1,354 companies participating in the Legend50＋ project grow solidly into leading companies that will drive the regional economy in three years.”

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