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Gunsan City Seeks Promising Local Businesses for 2026 Support Program
🇰🇷 South Korea /Economy & Trade

Gunsan City Seeks Promising Local Businesses for 2026 Support Program

From Dong-A Ilbo · (2d ago) Korean Positive tone

Translated from Korean, summarized and contextualized by DistantNews.

TLDR

  • Gunsan City is recruiting 'promising hidden champions' and 'hidden champion' companies for 2026.
  • This initiative, in its 8th year, aims to support local SMEs with high growth potential through technological advancement and market expansion.
  • Selected companies will receive up to 150 million KRW for promising hidden champions and 30 million KRW for hidden champions over several years.

Gunsan City is actively seeking to bolster its local economy by identifying and nurturing high-potential small and medium-sized enterprises (SMEs). The '2026 Gunsan-type Promising Hidden Champions and Hidden Champions' recruitment drive, now in its eighth year, underscores the city's commitment to fostering innovation and sustainable growth within the region.

This program is designed to provide crucial support to local businesses that demonstrate significant growth potential. By focusing on technological advancement and market expansion, Gunsan City aims to equip these companies with the resources needed to thrive in a competitive landscape. The initiative is a cornerstone of the city's economic development strategy, recognizing the vital role SMEs play in job creation and economic vitality.

We will spare no effort in providing systematic and customized support so that local companies with outstanding technology can grow step by step.

— Gunsan City OfficialExpressing the city's commitment to supporting the growth of local businesses.

Eligible companies must be headquartered or have their main place of business in Gunsan, have been established for at least three years, employ more than 10 full-time workers, and operate within the manufacturing or knowledge-based service sectors, with annual revenue below 60 billion KRW. The selection process involves rigorous evaluation, including document screening, on-site inspections, and presentations.

Selected 'promising hidden champion' companies will benefit from tailored support, including funding for prototype development, process improvements, and marketing, potentially receiving up to 150 million KRW over three years. 'Hidden champion' companies will receive 30 million KRW for one year to enhance their research and development capabilities. Gunsan City encourages eligible enterprises to participate, emphasizing its dedication to providing comprehensive support for their advancement and contribution to regional economic growth.

We hope many excellent companies that will become the core driving force of regional economic growth will participate.

— Gunsan City OfficialEncouraging participation in the business support program.
DistantNews Editorial

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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