North Jeolla Province Selects 12 "Promising Small and Medium Enterprises" for This Year
Hwasan Agricultural Corporation, The Next Co., Ltd., and Others
On December 11, North Jeolla Province held a ceremony at the provincial government office to present certificates and plaques of recognition to 12 companies that were finally selected as the "2025 Promising Small and Medium Enterprises of Jeonbuk Special Self-Governing Province."
The companies selected as promising SMEs this year are: Hwasan Agricultural Corporation, The Next Co., Ltd., Dual Power Electronics Co., Ltd., BD Tech Co., Ltd., Sangbong Motors Co., Ltd., CES Co., Ltd., Alluforce Co., Ltd., SM Electronics Co., Ltd., YK LLC, One Skin Cosmetics Co., Ltd., Taekwang Enterprise Co., Ltd., and Flowmaster Co., Ltd.
A total of 38 companies applied for this year’s selection, resulting in a competition rate of approximately 3 to 1. The final selection was made based on the highest scores after document reviews and on-site evaluations, followed by the final review by the Jeonbuk Special Self-Governing Province SME Support Agency Council.
The selected companies receive a certificate and a plaque of recognition. For five years during the designation period, they are eligible for up to 700 million won in provincial management stabilization funds (500 million won for general companies) and preferential financial support with up to 3% interest subsidy (2% for general companies). In addition, they receive extra points when participating in various business support programs, such as the Growth Ladder Fostering Project.
Governor Kim Kwan-young of North Jeolla Province stated, "Small and medium enterprises that have grown through excellent technology and diligence are the core driving force of the Jeonbuk economy. We will make Jeonbuk Special Self-Governing Province a business-friendly region by strengthening on-site response through the 'One Enterprise-One Public Official Assignment System' and expanding tailored support through initiatives such as the 'SME Growth Ladder Fostering Project' and the 'Smart Innovation Project.'"
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Meanwhile, the "Promising Small and Medium Enterprises of Jeonbuk Special Self-Governing Province" program has been selecting around 12 companies each year since 1999. Eligible candidates are SMEs in the province that have operated for at least three years, have at least five full-time employees, and generate annual sales of at least 300 million won in the manufacturing or knowledge-based industry sectors. As of this year, a total of 534 companies have been designated.
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