Now is the Best Time... Gyeongbuk TP Recruiting Beneficiary Companies for 'Andong Region Hemp Industry Development Support Project'

Support for Business Commercialization Including Prototype Production, Product Planning, Packaging Design, and Promotion

Andong City in Gyeongbuk has been selected with an S grade in the 2024 Si-Gun-Gu Local Industry Promotion Project competition conducted by the Ministry of SMEs and Startups for the "Support for High Value-added Product Development and Commercialization to Foster and Revitalize the Hemp Industry in the Andong Region," securing 1.04 billion KRW in national funding.

Gyeongbuk Technopark.

The first selected beneficiary companies include a total of 8 Andong-based companies with 17 cases. They plan to receive support through various programs such as prototype production, packaging, design, promotional marketing, product upgrading, certification, and participation in exhibitions and fairs. Additional recruitment is currently underway, raising expectations for the revitalization of small and medium-sized enterprises related to the hemp industry in Andong City.

The application period for the second recruitment is from the 3rd to the 23rd of this month, lasting three weeks, with a total corporate support fund of 270 million KRW (up to 50 million KRW per company). Support will be provided for prototype production, product planning, packaging design, promotion, exhibition participation fees, product upgrading, testing and analysis, and patents to aid business commercialization.

Detailed information can be found on the websites of Gyeongbuk Technopark, Gyeongbuk Provincial Government, Andong City Hall, and Andong University. Applications can be submitted through the SME Technology Development Project Corporate Support Project Management System.

Ha In-seong, President of Gyeongbuk Technopark, stated, “Through the promotion of the 2024 Si-Gun-Gu Local Industry Promotion Project, we will strive to contribute to the revitalization of related industries by providing technical support for the high value-added functional materialization and commercialization of hemp resources in the Andong region, as well as market development projects.”