Naju-si, Support for Companies Moving into Innovation City Cluster

[Naju=Asia Economy Honam Reporting Headquarters Reporter Kim Yuk-bong] The city of Naju, Jeollanam-do announced on the 24th that it will accept applications for the ‘Public Institution Related Industry Company Attraction Support Project’ from companies, universities, and research institutes that have moved in or leased office space within the Innovation City cluster site from the 4th to the 8th of next month.

This project aims to foster a new regional growth base by revitalizing the industry-academia-research cluster in Innovation City, supporting the office space rent or loan interest for sales payments of companies, universities, and research institutes relocating or moving into the cluster site.

Eligible applicants must be suitable for the industries attracted under the ‘Bitgaram Innovation City Industry-Academia-Research Cluster Establishment Plan’ and must not have passed three years since moving in.

Companies located outside the Innovation City cluster site can also apply if they sign a Memorandum of Understanding (MOU) with Naju City.

If selected as a support target, applicants can receive support for up to 80% of the office space rent or land, construction, and sales loan interest paid in the relevant quarter, with a monthly limit of 2 million KRW.

The city plans to select recipients after reviewing documents and eligibility, as well as conducting on-site inspections following the first quarter support application submission.

Interested companies should fill out the support project application form and provide proof of rent or loan interest, which are posted on the city hall website’s public notice section, and submit them in person to the Innovation City Education Division at city hall or the Bitgaram-dong Administrative Welfare Center by the 8th of next month.

A city official said, “We hope this project will help companies and research institutes planning to relocate or move into Bitgaram Innovation City, the energy capital Naju’s growth base, to settle stably,” adding, “We will continue to discover various support projects to attract companies to the Innovation City industry-academia-research cluster, create jobs, and revitalize the local economy.”

Naju=Asia Economy Honam Reporting Headquarters Reporter Kim Yuk-bong bong2910@asiae.co.kr