BUSAN < invest Korea

According to Yonhap News,

(BUSAN = Yonhap News) Busan newly designated 118 “world-class” leading companies and will intensively foster such companies as global specialized companies.

The city announced on 27 December that it designated and sent certificates to 118 “world-class” leading companies among the region’s small and medium enterprises (SMEs) that possess potential for leading the local economy.

On the list, there are 27 marine companies, 45 fusion parts and materials manufacturers, 21 creative culture companies, 21 knowledge infrastructure companies and 4 bio-health companies.

The criteria of designation are sales revenue of more than KRW 20 billion with more than one percent of investment in the research and development project or annual increase rate of sales of more than 7.5 percent in the last three years.

Leading companies within the region including Autonics, Kwangjin Wintec Co., Ltd., Youil Rubber, Tanktech, E-WON Solutech, Donghwa Entec, Steel Flower Co., Ltd, Taewoong and Leeno Industrial Inc. were designated as the “world-class” companies.

Busan plans to form “leading-Busan loan” of KRW 60 billion in a bid to support and foster the designated leading companies.

“The city will affiliate with the government’s SMEs supporting policies and come up with various measures to support the leading companies,” said a city official.

joseph@yna.co.kr

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Source Text

Source: Yonhap News (Dec. 27, 2013)

** This article was translated from the Korean.