DAEJEON < invest Korea

According to Newsis News,

(DAEJEON=Newsis News) Daejeon City announced on January 24 that it will support five companies as part of its inititive to nuture 'Global Hidden Champions,' a term referring to promising local small and medium-sized enterprises (SMEs).

Selected firms will receive government funding for R&D of up to KRW 600 million and overseas marketing expenses of up to KRW 200 million for two years and four years respectively.

Daejeon will also provide customized programs to support their technology development and commercialization for overseas expansion.

Eligible companies are SMEs based in Daejeon with sales revenue of over KRW 10 billion and under KRW 100 billion, whose direct or indirect exports account for more than 10% of their sales.

Since 2014, the city has selected and supported 17 regional businesses through the project.

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