Gyeonggi Province selected 10 companies within Yongin City to be designated as promising SMEs for 2024.

Gyeonggi Province Presents Certificates and Plaques; Benefits include preferential interest rates on fostering funds


Ten companies within Yongin City were selected as Promising SMEs of Gyeonggi Province for 2024. The province selected 212 promising SMEs with growth potential across the province and presented certificates and plaques on October 29th.
Ten small and medium-sized enterprises in the Yongin area were selected as promising SMEs in Gyeonggi Province in 2024.
Ten small and medium-sized enterprises in the Yongin area were selected as Promising SMEs of Gyeonggi Province for 2024.

Gyeonggi Province saw a high competition rate of 4.47:1, with 894 applications submitted to the SME contest held last March. The province selected a total of 212 companies after undergoing document evaluations, on-site actual condition surveys, legal violation checks, and an accreditation deliberation committee, including 63 nascent companies (startups), 109 initially accredited companies, and 40 re-accredited companies. This year, the evaluation criteria were improved to discover and select more nascent companies, which are crucial elements in creating an innovative industrial ecosystem, resulting in 50 more selections than the previous year.
Solon Co., Ltd. was the only startup selected among Yongin City's companies, and Izel (Yeongdeok-dong, Giheung-gu), which develops cosmetics and medical devices, was the only re-accredited company. Eight companies—including BitsS&G (Yeongdeok-dong, Giheung-gu), Samil C&F (Idong-eup, Cheoin-gu), NDS Solution (Gugal-dong, Giheung-gu), Emotionwave (Sanghyeon-dong, Suji-gu), T1 Korea (Yeongdeok-dong, Giheung-gu), Photix Novatechnics (Jung-dong, Giheung-gu), Friend (Jung-dong, Giheung-gu), and Homecheck (Gugal-dong, Giheung-gu)—received accreditation for the first time.
The province presented certificates bearing the name of the Governor of Gyeonggi Province and accreditation plaques to the accredited companies, and also granted usage rights for the Promising SME mark. Promising SMEs receive various benefits across 66 items managed by 9 institutions, such as preferential interest rates when applying for SME fostering funds and points in applications for support projects.
For accredited companies maintaining their status, they can receive up to KRW 5 million in 'Brand Diffusion Support Funds' for producing packaging materials and promotional items using the 'Promising SME Mark,' as well as for online marketing. Notably, starting this year, the self-pay ratio for brand diffusion support has been lowered from the previous 50% to 20%, reducing the burden on companies.
The accreditation period is 5 years from this year through 2029 for new accreditations and 3 years until 2027 for re-accreditations. The Gyeonggi Province Promising SME Accreditation System is a project designed to foster SMEs that lead the local economy by discovering those with great growth potential.
From 1995 until last year, a total of 7,041 companies—including small and medium-sized manufacturing enterprises, venture companies, and knowledge service industries within the province—supported accreditation.
Kim Seong-jung, Deputy Director of Gyeonggi Province Administration Division 1, stated, “SMEs are a solid pillar of the local economy and a core engine driving sustainable growth,” adding, “We will create an environment favorable for businesses by providing various supports such as R&D and commercialization support, and market development to foster innovative SMEs.”
The list of accredited Promising SMEs for 2024 can be checked on the Gyeonggi Province website (gg.go.kr) notices/announcements and the Promising SME Accreditation Project website (best.egbiz.or.kr).
Original article: By Ham Seung-tae, Yongin Citizen Newspaper stham@yongin21.co.kr

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