Jeonbuk Province Rolls Up Sleeves to 'Save' Small and Medium Enterprises...

Jeonbuk Provincial Government Office

[Asia Economy Honam Reporting Headquarters Reporter Gominhyeong] Jeonbuk Province and the Jeonbuk Economic and Trade Promotion Foundation have launched the ‘Jeonbuk Small and Medium Enterprises Oh! Pilsaeng Support Project’ to prevent the outflow of technical personnel from small and medium-sized enterprises (SMEs) in the province and to promote business continuity.

This project is intended to provide an opportunity for SMEs in the province to overcome the crisis caused by COVID-19 and to take a leap forward again.

The province secured 3.8 billion KRW in provincial funds through the second supplementary budget this year and will support up to 60 SMEs in the province with a maximum of 60 million KRW each.

Eligibility for application includes small and medium-sized manufacturing enterprises that have been operating in Jeonbuk for more than three years, have experienced a 20% increase in sales for two consecutive years recently, but have seen a decrease of 20% or more in sales during the same period this year (January to April) compared to last year due to COVID-19 damage.

This support project was actively reflected after hearing that the biggest difficulty for SMEs in the province is the outflow of technical personnel due to COVID-19.

Na Seok-hoon, head of the Job Economy Headquarters of the province, said, “We will do our best to make the Oh! Pilsaeng Support Project an opportunity for the manufacturing industry in the province to regain vitality and to stimulate the contracted local economy.”