Gyeongju City to Invest 3.1 Billion Won to Strengthen SME Competitiveness

Full-Scale Support for Overseas Expansion, Technological Advancement, and Business Stability
New Initiatives for Dormitory Environment Improvement and Fire Insurance Premium Support

Gyeongju City will invest a total of 3.1 billion won this year-an increase of 500 million won from last year-to implement 12 support programs for local small and medium-sized enterprises (SMEs). The aim is to improve working conditions, strengthen disaster response capabilities, establish a stable management foundation, and accelerate the development of promising small businesses.

This year, a total of 500 million won has been allocated for new projects, including 300 million won for improving SME dormitory environments and 200 million won for supporting fire insurance premiums for SMEs.

Gyeongju City Hall Exterior View

The purpose is to renovate aging dormitory facilities where foreign workers reside, thereby improving living conditions, and to help companies recover their operations in the event of unexpected disasters such as fires.

To support local SMEs in expanding into overseas markets, the city will invest a total of 430 million won.

Through initiatives such as prototype production, design development, support for entering global distribution networks using KOTRA's overseas trade offices, and participation in major overseas exhibitions, the city aims to enhance the export competitiveness of local companies.

Additionally, 108 million won will be provided to activate resident companies at startup incubation centers linked with local universities and startups, host the 'Univer+City Co-Prosperity Forum,' and support the activation of venture company clusters.

Support will also continue to ensure business stability and strengthen technological competitiveness.

A total of 700 million won will be invested in supporting accounts receivable insurance to prepare for uncollected sales, advancing technology and products, and addressing challenges faced by Happy Monitor companies and those attracting investment.

In particular, 100 million won will be provided to companies invested in by the Gyeongbuk Power Fund across eight areas, including exhibition participation and intellectual property application and registration. An additional 60 million won will be allocated to three areas, including the establishment of SME shopping mall apps, to create a corporate marketing ecosystem totaling 160 million won.

Other support programs include 540 million won for SME dormitory rental assistance, 300 million won for establishing a foundation to foster promising small businesses, 130 million won for supporting Golden Enterprise development, and 190 million won for supporting domestic logistics costs for SMEs. Through these various initiatives, the city plans to provide a stable foundation for the sustainable growth of local SMEs.

Gyeongju Mayor Joo Nakyoung stated, "Despite challenging external conditions, we will continue to strengthen practical support so that SMEs can remain competitive and achieve sustainable growth."