Gyeonggi Economic Science Institute, Recruiting Hidden Champion SMEs in Pyeongtaek Area

Gyeonggi-do Economic Science Promotion Agency

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The Gyeonggi-do Economic Science Promotion Agency is recruiting small and medium-sized enterprises in the Pyeongtaek area to participate in the 'Hidden Champion Development Support Project' until the 13th of next month.

'Hidden Champions' are small and medium-sized enterprises with low recognition but global competitiveness. The Gyeonggi Economic Science Agency and Pyeongtaek City plan to select two companies this year to nurture as Hidden Champions.

Selected companies will receive support covering 60% of costs for research equipment purchases, research personnel wages, intellectual property application and registration fees, and technology innovation R&D expenses, up to a limit of 90 million KRW per company.

Eligible applicants are small and medium-sized enterprises with factories registered in Pyeongtaek City and sales of 8 billion KRW or more based on the 2018 financial statements or 2019 estimated financial statements.

Companies wishing to participate can apply online through the EGBiz website (www.egbiz.or.kr) and then send the related documents by mail or visit the Southern Regional Center Pyeongtaek Branch Office of the Gyeonggi Economic Science Agency (031-651-7161) to submit them.