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Daegu to Invest 1.059 Trillion Won to Support SMEs with High-Potential
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According to Yonhap News,

Daegu City will inject a total of 1.059 trillion won into supporting small-and-medium enterprises (SMEs) in the manufacturing sector with high-potential to develop further by the end of 2013.

Last year's special budget worth 782 billion won, spent in implementing the first round of support plan for regional SMEs with high-potential for a year from last June, led to substantial achievements - increases of 4.5 percent, 15 percent and 13 percent in job creation, sales and exports, respectively.

As uncertainty looms large over the global economy with the Eurozone fiscal crisis, Daegu City plans to especially focus on four fields, including financial support, workforces, marketing and reduction of production costs, to support SMEs.

"We are also preparing for the scenario of more worsening global economic crisis than expected, as an effort to help regional SMEs respond to the emergent situation," said Kim Beom-il, Daegu Mayor.

Source Text

Source: Yonhap News (Aug. 7, 2011)

** This is an English translation of a Korean news article.