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Title 2023 Cheongju, Even Better Place for Businesses
Writer cheongju
Subject On Dec. 8, Cheongju announced that the city would focus its efforts on fostering Cheongju-type SMEs with the vision of "Chengju, transforming into a better city for businesses by 2023."

* Establishment of trust and communication networks with companies for ‘stronger competitiveness of SMEs’

In order to stabilize management and strengthen the competitiveness of 3,313 local SMEs, the city promotes various financial support and corporate support policies.

Management stabilizing loan support (KRW 110 billion), customized nationwide institutions bidding information real-time provision service (targeting 800 companies) will be promoted. Support for registration at Nara marketplace, support for R&D government project consulting and support for 2023 Korea Nara Marketplace Expo Cheongju Business Center shall be helpful for SMEs. SMEs products contest to advertise and help the sales of SMEs and a project to help the SMES selected as 2023 promising SMEs to settle down will be conducted for the local economy.

The city plans to make efforts to develop Cheongju into a good place for business. Cheongju Entrepreneur's Day SMEs CEO competency strengthening training, entrepreneurs council's model businesses benchmarking workshop, athletic events for businesses in Cheongju, trade delegations to develop overseas markets in Southeast Asia and even more projects will be conducted for the efforts.

* Operation of a support group to resolve corporate difficulties for ‘corporate vitality’

In line with the pledge of the 8th civil election, the city is operating a support group to resolve business difficulties.

A weekly business site visit is conducted by the deputy mayor to collect suggestions for business difficulties, such as unreasonable regulations and infrastructure restrictions, and to hold countermeasure meetings to come up with solutions.

Additionally, monthly meetings with entrepreneurs will be held regularly to listen to difficulties, receive suggestions on regulations, and promote available projects as soon as they are reviewed by the relevant department. Monthly meetings will be held to resolve business difficulties that require discussion between departments.

Furthermore, the city will propose improvements to the central government for unreasonable legal/institutional regulations and make active efforts to resolve corporate regulations through responsible management.

* Promotion of preferential purchase of local products for ‘local economy vitality’

The city also set increase on the purchase rate of local products as a top priority as per the “Municipal Ordinance on Support for Preferential Purchase of Local Products” so that local businesses can be protected and nurtured, and will use all its capabilities to ensure that the project takes root early.

From planning to purchasing, a 4-step system is being implemented for all departments and investment foundations/institutions in order to encourage them to purchase local products. To protect and nurture local businesses, the 4-step system will be implemented in 2023, and all departments within the city will be required to purchase local products preferentially, while encouraging related organizations in the region and public institutions to do so as well.

* For ‘start-up competitiveness’ in collaboration with a professional consulting agency

The Cheongju Mirae Nuriter, a public rental office/factory building in Cheongju, is promoting various projects to strengthen the competitiveness of start-up companies.

The Cheongju Mirae Nuriter is planning to establish a fostering strategy for each growth stage of businesses. It also supports businesses by operating domestic certification projects including service quality and green certification. Model businesses among its residents will be supported when participating in fairs, helping their PR and acquiring new sales routes.

Additionally, as part of a corporate management support project, the city will support rent for model resident businesses to help them avoid financial difficulties in their early stages. Cheongju also conducts ESG training for sustainable development of businesses. Businesses with excellent ESG activities will be given a bonus to receive management stabilization fund. Such bonus is set to nurture businesses with technological edges.

A city official stated, “We will promote financial support for business stability of SMEs, support for strengthening corporate competitiveness, and vitalization of the operation of the Cheongju Knowledge Industry Center." She added, "We plan to induce both qualitative and quantitative growth of SMEs through omni-directional corporate support policies, including the establishment of a Cheongju-style platform for fostering new small and medium-sized enterprises, as well as various customized projects for start-ups.
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