JEJU-DO < invest Korea

According to Yonhap News,

On April 7, Jeju-do announced that it will support up to KRW 20 million per company for four businesses in the innovation growth stage.

The companies eligible are local small and medium-sized enterprises (SMEs) that have been in business for more than 3 years and have annual sales ranging from KRW 1 billion to KRW 11.8 billion KRW.

SMEs with technological or management innovation, promising growth potential, family-friendly certification, women-led businesses, and those practicing Environmental, Social, and Governance (ESG) management will receive additional points during the uation process.

Selected companies can use the funding for activities such as developing formulations for raw material, producing prototypes, and purchasing consumable research equipment.

Companies wishing to participate should apply through Jeju Technopark's Jeju Industry Information Service (https://jeis.or.kr) by April 15.

Last year, the five companies that participated in this program achieved an average commercialization revenue of KRW 287 million.

They also expanded their distribution networks, with some entering Shilla Duty Free shops and initiating exports to France.

khc@yna.co.kr

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Source: Yonhap News (April 7, 2025)