Achievement of Ulsan Global Star Venture Promotion by 2016
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Selected SME average sales growth exceeded 25%
Ulsan city has been proving its achievements in the development of global star venture business, which locates promising SMEs with technological competitiveness and global growth potential.
According to Ulsan City, Ulsan Economic Development Agency (CEO Jung Hwan Doo) has been promoting the Global Star Venture business since 2004. The company has selected three new companies and four existing companies to support 150 million won in business funds, 15 applications, 19 acquisitions, and 25% increase in average sales.
The Global Star Venture Company will be selected through a three-step in-depth review of the company’s excellence and growth potential in Ulsan.
The application period for this year is until May 16, 2016, and three new companies and four re-selected companies like last year will be selected and supported.
Ulsan Economic Development Agency will support business funding (up to KRW 30 million for new projects, KRW 15 million for re-selection) and comprehensive evaluation of management, technology and business competitiveness.
In addition, the Korea Development Bank and Industrial Bank of Korea will provide preferential loans for preferential loan financing for management and facility funds and issue a technology guarantee certificate from the Technology Guarantee Fund, respectively.
Companies that have already been selected from 2012 to 2015 will continue to support their business performance and provide additional business funds (up to 15 million won) and loans.
Among the companies selected last year, ROL ENG entered into an agreement with Thai S Company for an annual supply of US $ 130,000, and LoPa Co., Ltd. was selected as an excellent supplier of Hyundai Hysco and registered as a technical guarantee fund A + member.
In particular, Rebe Industries Co., Ltd. achieved good results by winning orders for a strainer for offshore plants worth W1.8bn in the worsening of the shipbuilding industry.
According to a city official, “Global star venture companies with high competitiveness based on their technological capabilities are growing steadily despite the economic recession.” If the company is selected as a global star venture company, corporate brand credibility will increase significantly. This is fierce.