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Daegu city looking for 11 local hidden champions to join an annual biz-support program

According to Yonhap News,

The city of Daegu said on Jan 19 that the city government, SMEs and Startup Agency Daegu-Gyeongbuk Office and Daegu Technopark launched a program to find and support this year’s promising local hidden champions. The annual program aims to identify and foster 200 small enterprises nationwide with full potential and prospects to grow and the city is reported to pick 11 candidates this year.

Potential candidates to benefit from the program are required to be small or medium sized enterprise, whose annual sales and exports reach to KRW 10 -100 billion and USD 5 million each. They must show valid proof of company headquarters to validate Daegu city residency. Anyone interested in the program can click on and submit application forms until Feb 8. Goring through several steps of screening process, the finalists are announced in April.

Once placing their names on the shortlist, the selectees are allowed to be given up to KRW 200 million worth of financial aids over the next four years from the Ministry of SMEs and Startups, alongside other forms of subsidies that amount to KRW 25 million each from the city government.

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Source: Yonhap News (Jan 19, 2021)

** This article was translated from Korean.