Gimhae City Selects 10 Leading Companies for Technology Innovation in 2024
On July 5, the city held a certification ceremony in the main conference room at City Hall to present certificates to the selected companies.
The program aims to enhance the competitiveness of local SMEs by intensively supporting R&D activities of companies with in-house research centers or dedicated R&D departments. Gimhae plans to select 10 companies each year through 2028, totaling 50 companies.
Eligible sectors include the city’s five strategic industries (biomedical/medical devices, digital logistics, smart sensors, future automobiles, intelligent robots) and future-based industries (liquid hydrogen, civil-military MRO, ICT convergence, metaverse & content, food). This year’s open call in March attracted 56 applicants, demonstrating high competition.
As a result, the Challenge Track (for early-stage companies) selected: NutriAdvisor Co., Ltd. (CEO: Lee Ji-hye), Ecoprime Co., Ltd. (CEO: Jang Hyun-hee), UMED Co., Ltd. (CEOs: Park Myung-chan & Lee Kang-woo), KMG Co., Ltd. (CEO: Moon Chang-soo), PhytoEco Co., Ltd. (CEO: Hyun Ji-yeon)
The Growth Track (for more mature companies) selected: Sejong Flex Co., Ltd. (CEO: Seok Jong-min), Shinheung Machine Co., Ltd. (CEO: Na Gi-won), Young Chemical Co., Ltd. (CEO: Yoon Han-sung), TMC Co., Ltd. (CEO: Kim Sung-soo), Humil Co., Ltd. (CEO: Kim Kyung-hwan)
Selected companies will receive up to KRW 40 million to 100 million in R&D support, depending on their revenue and technology readiness level.
The Challenge Track supports R&D in the early stages—such as theory development or idea patent filing—for companies with revenue under KRW 2 billion. The Growth Track supports product prototyping and standardization for companies with revenue over KRW 2 billion. Additional benefits include a 30% local tax reduction (once) and access to investment networking opportunities.
On the day of the event, a roundtable was held with representatives from the Ministry of SMEs and Startups, Korea SMEs and Startups Agency, Gyeongnam Creative Economy Innovation Center, NH Nonghyup Bank, BNK Gyeongnam Bank, and Gyeongnam Venture Investment to celebrate and discuss future support strategies. Yoon Han-sung, CEO of selected company Young Chemical, commented, “I hope this selection will lead to more active R&D support programs and that more companies will be encouraged to invest in R&D under favorable conditions.”
