Daejeon City to Recruit 50 'Promising Small and Medium Enterprises'... Incentives for Selected Companies

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City is recruiting 50 promising small and medium-sized enterprises (SMEs).

The city announced on the 7th that it will begin recruiting companies for the selection of the "2021 Promising SMEs" from the 8th of this month to the 9th of next month.

The target companies are SMEs in the manufacturing industry, manufacturing-related service industry, knowledge industry, and video industry sectors that have their headquarters or business sites in Daejeon and have been operating factories for more than three years as of the selection date.

The certification period for promising SMEs is five years. Selected companies can receive incentives such as preferential interest rates on SME management stabilization funds, expanded limits on Seoul Guarantee Insurance, discounts on performance guarantee insurance premiums, preferential participation in domestic and international exhibitions and fairs, and a three-year deferral of tax audits.

Applications and submissions can be made by mail or in person. After the application deadline, the city will conduct document evaluations and review and resolution by the "SME Support Agency Council" based on the selection evaluation criteria, and announce the final results in October.

For more detailed information regarding the application for promising SMEs, please refer to the city’s website or the announcement section of the Daejeon Job and Economy Promotion Agency, or contact the Corporate Startup Support Division of Daejeon City Hall.

The city recruits promising SMEs every year. Up to last year, a total of 728 companies have been designated as promising SMEs.

Park Moon-yong, head of the Corporate Startup Support Division, said, "We will strive to simultaneously strengthen the competitiveness of companies and revitalize the local economy by selecting promising SMEs with high growth potential and providing various supports such as funding and market access."