ULSAN < invest Korea

According to Yonhap News,

Ulsan City announced on August 7 that its project to foster the regional specialized industries it pushed for together with the Ulsan Technopark received the top (S) and best (A) grades in the government evaluation on the 'plan' and 'performance' fields, respectively.

Thanks to the evaluation, the city secured KRW 2.2 billion financing of national funding.

This project is to foster the regional specialized industries, aiming to nurture small and medium-sized businesses in non-metropolitan areas, promoted by the Ministry of SMEs and Startups, in pursuit of balanced regional development and revitalization of the local economy.

The budget is differently supported based on the annual plan and evaluation on the achievements.

In the planning (2021) category, the city and Technopark received high evaluations on the feasibility of reorganizing the main industries to promote the regional New Deal and revitalize the special regulation-free zone, the ambitiousness of performance goals, and fostering of data-based industry and establishment of business growth strategies.

In the performance (2020) category, the establishment and operation of data platforms for the economy, industry, and companies, and the performance of institutionalization to maximize the effect of local business policies were well received as exemplary cases.

A city official said, "Despite difficulties and crises across the local industry, such as the COVID-19 pandemic, we could achieve good results thanks to the efforts of everyone engaged in local innovation."

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Source:Yonhap News (August 7, 2021)