53 Companies in Andong Namhu and Yeongdeok No. 2 Industrial Complexes Hit by Wildfire to Receive Exceptional Benefits... Designated as Special Support Zones for 2 Years

On July 9, the Gyeongbuk Provincial Government announced that the Namhu Industrial Complex in Andong and the Yeongdeok No. 2 Industrial Complex, both of which suffered damage from a massive wildfire, have been designated as special support zones for small and medium-sized enterprises (SMEs) for the next two years. As a result, companies located in these complexes are expected to receive preferential treatment in various support programs.

The massive wildfire that broke out in Gyeongbuk in March this year caused not only casualties and forest damage, but also inflicted significant losses on local SMEs.

Gyeongbuk Provincial Government Building

In particular, many companies located in the industrial complexes of Andong and Yeongdeok, where SMEs are concentrated, suffered losses of production facilities and disruptions to their operations. It is expected that it will take a considerable amount of time for these companies to recover their business operations.

In response, the Gyeongsangbuk-do Provincial Government, Andong City, and Yeongdeok County applied for the designation of special support zones for SMEs in accordance with the "Act on the Promotion and Innovation of Regional Small and Medium Enterprises," aiming to facilitate the swift normalization of business operations for SMEs in the wildfire-affected areas.

With this special designation, companies currently operating in the two industrial complexes (53 companies) as well as new companies moving in will be given priority to participate in public bids through limited competitive bidding and private contracts for goods they produce directly. They will also receive preferential access to a variety of support programs, including SME technology development support, the industrial skilled personnel system, and business recovery consulting.

Lee Cheolwoo, Governor of Gyeongbuk Province, stated, "This measure is intended to help SMEs affected by the Gyeongbuk wildfire quickly normalize their operations and support the rapid recovery of the local economy." He added, "We will continue to work closely with the Ministry of SMEs and Startups to provide effective and tailored support."