Daejeon City Opens Public Recruitment for 50 Promising Small and Medium Enterprises

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City will select and support 50 promising small and medium-sized enterprises (SMEs) this year.

On the 20th, the city announced that it will open applications for the "2022 Promising SMEs." Eligible applicants are companies in manufacturing, manufacturing-related services, knowledge industries, and video industries that have their headquarters or business sites in Daejeon and have been operating factories for more than three years as of the selection date.

Companies previously selected as promising SMEs can also participate if their management period has expired or is due to expire this year.

Applications can be submitted by visiting the Daejeon Job and Economy Promotion Agency or by mail until 6 p.m. on the 30th of next month.

The city will conduct document evaluations and on-site assessments on applicant companies regarding business establishment, growth potential, economic impact within the region, financial status, and technological capabilities. After the final review by the "SME Support Agency Council," the selected companies will be finalized around October.

Selected companies will receive a certificate and a plaque, with a certification period of five years. During the certification period, the city will provide benefits such as preferential interest rates on SME management stabilization funds, expanded support from Seoul Guarantee Insurance, preferential participation in domestic and international exhibitions and fairs, and a three-year tax audit exemption.

For more detailed information about the Promising SMEs recruitment, please refer to the announcement posted on the Daejeon City Hall or Daejeon Job and Economy Promotion Agency websites, or contact the Daejeon Job and Economy Promotion Agency for guidance.

Kim Yong-du, head of the City’s Enterprise Startup Support Division, said, “By selecting companies with high growth potential as promising SMEs and supporting them with funds and market access, we aim to enable these companies to play a pivotal role in the development of the regional economy.”