Daegu City’s growth ladder support system for fostering small and medium-sized enterprises. (Data provided by Daegu City Hall)

Daegu City's 'Star Company Development Project' will be expanded nationwide.

According to Daegu City on the 18th, the Ministry of SMEs and Startups' 'Local Star Business Development Project' is a pledge project presented in the Moon Jae-in administration's five-year government management plan (July 2017), and will be launched from this year by 2022, using Daegu's 'Star Business Development Project' as a role model. We plan to foster a total of 1,000 local excellent companies across the country over the next five years. The Daegu region will also select 15 companies this year, and designate and foster 15 companies each year for a total of 75 companies over the next five years.

This project is a cooperative project to foster small and medium-sized businesses between the Ministry of SMEs and Startups and 14 metropolitan local governments outside the metropolitan area to foster 'local excellent companies' that will drive regional innovative growth. It discovers small and medium-sized businesses with high growth potential and excellent contributions to the local community, such as creating jobs and added value. We provide support to help the company grow into a global small but strong company.

This year's support budget is a total of KRW 13.4 billion, and local star companies selected this time will receive approximately KRW 50 million in commercialization support per company, as well as export success package projects such as production of promotional videos for companies with export performance of less than 1 million dollars and participation in overseas exhibitions. We plan to provide up to 30 million won per year and 300 million won (2 years) per year for commercialization R&D next year.​

The 15 local star companies in Daegu selected this year are Nakyung Co., Ltd. (CEO Yoon-geun Cha), Daewoo Kyung Metal Co., Ltd. (Do-yeon Kim), Donggwang Luxury Door Co., Ltd. (Myung-hyeon Lee), DH Tech Co., Ltd. (Tae-gyu Han), Myeongseong Co., Ltd. (Myeong-yong Kim), and CMS Co., Ltd. (Oh Kyung-ho), SLC Co., Ltd. (Kim Jong-woo), Agricultural Corporation Youngpoong Co., Ltd. (Cho Jae-gon), Allsotech Co., Ltd. (Kim Il-hwan), Wooyang Advanced Materials (Yoon Ju-young), Yuil Engineering Co., Ltd. (Lee Kun-ho), E2 Collection Co., Ltd. (Lee Yong-cheol, Lee Chang-man), These are Computer Mate Co., Ltd. (Sang-in Seo), Techn Co., Ltd. (Young-seop Lee), and Fine Medix Co., Ltd. (Seong-woo Jeon).

Daegu City Economic Policy Department Director Seong Im-taek said, "As this project is implemented nationwide by the Ministry of SMEs and Startups by benchmarking Daegu City's 'Star Company Development Project', we plan to actively mobilize Daegu's star company development know-how accumulated over the past 11 years. “We will do our best to show that Daegu is the cradle of fostering small but strong companies, both in name and reality.”
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