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MSS to push for "Region+end 50+", a regional specialization project, with 17 cities and provinces
On January 1, the Ministry of SMEs and Startups (MSS) said that it will publicize the comprehensive announcement of the regional specialization project "Region+end 50+" with 17 regional governments nationwide on the following day.
"Region+end 50+" is a policy to foster local SMEs througn MSS's intensive support by integrating its policy measures over the next years until 2026, once regional governments produce plans for specialized projects that take advantage of unique characteristics and strengths of each region.
Each of the 17 regional governments will select and promote one project, while Gwangju, Gyeonggi, Chungbuk, and Gyeongnam will each get to promote two projects.
Gyeonggi Province will go ahead with a project to create an innovative ecosystem for future cars, while Chungbuk will push for an innovative growth project for semiconductor materials, parts, and equipment companies.
MSS will provide policy measures worth of KRW 279 billion, such as policy funds, smart factories, innovation vouchers, and export vouchers, to companies participating in the project this year, while 17 regional governments will also provide about KRW 80 billion for tech doctors, manpower training, and infrastructure construction.
MSS explained that "the successful promotion of the 'Region+end 50+' indicates our strong will to increase the proportion of SMEs in exports and sales, and non-metropolitan sales to more than 50% by 2027."
kaka@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2024.01.04
Views
64
According to Yonhap News,
On January 1, the Ministry of SMEs and Startups (MSS) said that it will publicize the comprehensive announcement of the regional specialization project "Region+end 50+" with 17 regional governments nationwide on the following day.
"Region+end 50+" is a policy to foster local SMEs througn MSS's intensive support by integrating its policy measures over the next years until 2026, once regional governments produce plans for specialized projects that take advantage of unique characteristics and strengths of each region.
Each of the 17 regional governments will select and promote one project, while Gwangju, Gyeonggi, Chungbuk, and Gyeongnam will each get to promote two projects.
Gyeonggi Province will go ahead with a project to create an innovative ecosystem for future cars, while Chungbuk will push for an innovative growth project for semiconductor materials, parts, and equipment companies.
MSS will provide policy measures worth of KRW 279 billion, such as policy funds, smart factories, innovation vouchers, and export vouchers, to companies participating in the project this year, while 17 regional governments will also provide about KRW 80 billion for tech doctors, manpower training, and infrastructure construction.
MSS explained that "the successful promotion of the 'Region+end 50+' indicates our strong will to increase the proportion of SMEs in exports and sales, and non-metropolitan sales to more than 50% by 2027."
kaka@yna.co.kr
Source Text
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Source: Yonhap News (January 1, 2024)
** This article was translated from Korean.