JEOLLABUK-DO < invest Korea

According to Yonhap News,

Namwon city in North Jeolla Province announced the launch of a business support program which aims to help prototype development, designing and pooling expenses to open up and find new sales channels, particularly targeting cosmetics brands headquartered in the city of Namwon. The deadline for the application submission is Apr 16.

Picking up three potential candidates developing prototypes and cosmetics designing, the city provides cash grants up to KRW 3 million and KRW 2 million each. Financial aid funded for logistics and market expansion, designed to help businesses tap deeper into new global markets, will also be given to the applicants.

For more information, visit www.namwon.go.kr and www.ncn.re.kr.

Regarding the cosmetic industry as the next growth driver of the community, the city has kicked off the program, while building up industry base to develop and source new ingredients and to extract chemical compounds. They’ve also established a business center, a commercially viable space for local cosmetic brands.

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Source: Yonhap News (Apr 6, 2021)