Establishment of Local Extinction Response Fund Investment Plan
Linked to Regional Industry Growth Project
The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 4th that it will provide expert consulting support for task execution to local governments selected for the 'Regional Small Business Innovation Public Contest Project' starting this month.
This project, jointly promoted by the Ministry of SMEs and Startups and the Ministry of the Interior and Safety, was open to 107 basic local governments corresponding to depopulated areas (89) and areas of interest (18), as well as 13 metropolitan local governments overseeing these areas. A total of 23 tasks (28 local governments) were submitted, of which 12 tasks (14 basic local governments and 2 metropolitan local governments) were selected.
The task content involves each local government discovering plans to build and support infrastructure and programs that local companies can utilize through the Local Extinction Response Fund of the Ministry of the Interior and Safety, and linking these with projects such as commercialization, product advancement, workforce training, and financing by the Ministry of SMEs and Startups.
For example, Goesan-gun in Chungbuk supports marketing and design improvements for business sites related to the Hanji Cultural Industry Economic Special Zone project, Buyeo-gun in Chungnam promotes consulting and commercialization support to advance smart farm structures, and Hampyeong-gun in Jeonnam plans to create jobs through financing and prototype production by completely reorganizing the Haebomyeon Agricultural and Industrial Complex.
Since this approach is autonomously and proactively led by local governments rather than by central government ministries, local experts and industry experts participate in consulting for each local government in pairs. Customized consulting will be provided to help advance tasks linked to investment plans of the Local Extinction Response Fund.
In the future, SBC plans to jointly promote regional industry growth projects targeting the selected tasks. Kim Hak-do, Chairman of SBC, said, "Policy support is essential to expand jobs in non-capital regions," adding, "Based on the comprehensive support capabilities for SMEs and ventures through 33 regional headquarters and branches nationwide, SBC will focus on fostering regional small businesses and creating jobs to take the lead in overcoming the crisis of local extinction."
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