Suncheon City Prepares Support Measures for Export and Steel Companies Facing Crisis

Port Shipping Costs, Long-term Employees, and SME Loan Interest Support

Suncheon City, South Jeolla Province (Mayor Noh Gwan-gyu) recently held a meeting with executives from the Haeryong and Yulchon Industrial Complexes Council, where they listened to the management difficulties faced by local companies and pledged to devote all efforts to developing practical support measures.

This meeting was organized to discuss ways to resolve the difficulties faced by local export and steel companies and to strengthen their competitiveness amid growing global economic uncertainties, such as the United States' universal tariff policy and the spread of protectionism.

From the left in the photo: Kim Jaebin, Director of Future Industry Bureau; Lee Inwoo, Auditor of Inotech Co., Ltd.; Chae Gangseok, Vice Chairman of Korianet Co., Ltd.; Noh Gwan-gyu, Mayor of Suncheon; Jung O-yong, Chairman of Yulchon-Haeryong Industrial Complex Council; Kim Jaesoo, Secretary General; and Bang Sujin, Head of New Growth Industry Division. Provided by Suncheon City.

Companies located in the Haeryong and Yulchon Industrial Complexes suggested expanding more practical support, including alleviating the burden of export and import logistics costs, difficulties in pioneering overseas markets, and the need for support to maintain employment.

Jung Oyong, Chairman of the Haeryong Yulchon Industrial Complex Council, said, "There are about 100 export companies and 44 steel companies in Suncheon, which makes them highly susceptible to international economic impacts. If Suncheon City works together with companies to address their difficulties and expands practical support, it would be of great help."

In response, Mayor Noh Gwan-gyu stated, "We will establish practical support measures so that local companies can continue to grow without faltering, and we will maintain active responses at the city level."

Meanwhile, Suncheon City plans to implement support measures to reduce the burden on companies and help ensure stable management, such as support for export port shipping costs, support for long-term employees, and expansion of interest support programs for small and medium-sized enterprise loans.