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Ulsan to put KRW 93.5 bn in 43 projects aimed at fostering innovation and development of SMEs
On March 26, Ulsan-si announced that it has established the '2025 Small and Medium-sized Enterprise (SME) Development and Innovation Promotion Plan' to foster the growth and innovation of SMEs and boost the regional economy.
According to the Ministry of SMEs and Startups (MSS)' Basic Statistics on Small and Medium Enterprises, there are 141,974 SMEs in Ulsan (including small business owners), accounting for 99.89% of all businesses in the region. Furthermore, 357,362 people work in SMEs, making up 87.39% of the total workforce.
SMEs play a key role in job creation, establishment of industrial ecosystem, and innovation growth. However, many SMEs continue to face management difficulties due to increased global economic uncertainties and consumer spending slowdown
To address these issues, the city has set three main goals: Support for innovative growth through customized assistance for SMEs; Enhancement of regional economic vitality by fostering a startup ecosystem; Promotion of entrepreneurial small business owners and strengthening the self-sustainability of traditional markets. It also set a plan composed of 43 projects across 8 areas, including finance, technology, and startups.
The budget allocated for these projects this year is KRW 93.57 billion, a 12.6% increase from last year's KRW 83.1 billion.
Detailed information and application procedures for each SME support project can be found on the Ulsan City website.
hkm@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2025.04.01
Views
58
According to Yonhap News,
On March 26, Ulsan-si announced that it has established the '2025 Small and Medium-sized Enterprise (SME) Development and Innovation Promotion Plan' to foster the growth and innovation of SMEs and boost the regional economy.
According to the Ministry of SMEs and Startups (MSS)' Basic Statistics on Small and Medium Enterprises, there are 141,974 SMEs in Ulsan (including small business owners), accounting for 99.89% of all businesses in the region. Furthermore, 357,362 people work in SMEs, making up 87.39% of the total workforce.
SMEs play a key role in job creation, establishment of industrial ecosystem, and innovation growth. However, many SMEs continue to face management difficulties due to increased global economic uncertainties and consumer spending slowdown
To address these issues, the city has set three main goals: Support for innovative growth through customized assistance for SMEs; Enhancement of regional economic vitality by fostering a startup ecosystem; Promotion of entrepreneurial small business owners and strengthening the self-sustainability of traditional markets. It also set a plan composed of 43 projects across 8 areas, including finance, technology, and startups.
The budget allocated for these projects this year is KRW 93.57 billion, a 12.6% increase from last year's KRW 83.1 billion.
Detailed information and application procedures for each SME support project can be found on the Ulsan City website.
hkm@yna.co.kr
Source Text
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Source: Yonhap News (March 26, 2024)
** This article was translated from Korean.