GWANGJU < invest Korea

According to Yonhap News,

On December 18, Gwangju-si announced that it has selected 27 hidden champions with the potential to become global companies.

Gwangju-si announced 11 newly designated and 16 re-designated companies at the 13th hidden champion designation ceremony held at Gwangju Techno Park on December 17.

The newly designated companies are Geummyeong Hitech, Da Won C&T, Dynamic Design, MARUENG, Search, Seunggwang, IGis, Atomos, Eduyaa, Is-soft, and Hyundae Machinery&Electric.

Gwangju-si designates hidden champions and supports them, who have the potential to enter the global market through technological innovation, R&D investment, and stable sales growth.

Companies with more than KRW 5 billion in sales (more than KRW 1 billion in the knowledge service industry) and with annual average sales growth of more than 5% over the past five years, or more than 1% of R&D investment to sales over the past three years are eligible for selection.

Designated companies receive customized support such as planning R&D projects, commercializing new technologies, improving processes, and supporting collaboration for three years.

In addition, they will receive management, technology, and funds from related organizations such as Gwangju Techno Park, Gwangju Credit Guarantee Foundation, among others.

areum@yna.co.kr

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Source: Yonhap News (December 18, 2024)