KRW 2.8 billion to improve the business environment of small enterprises

Gyeonggi reported that it is slated to spend KRW 2.8 billion to reform the facilities and working environment of the areas that are crowded with the small business enterprises. 

As part of Gyeonggi’s plan to promote the ‘Best Place to Run Business’slogon, the local province started this environmental improvement plan from 2005 and this year 30 business enterprises from 12 cities and districts are to receive support.

Upon the reformation plan, Gyeonggi is to pave entrance the ramp at Hwaseong city costing KRW150 million, install public signboard at Gwangju city with KRW120 million of investment and also at Pocheon city with KRW120 million. Local government will also conduct pavement working at a ramp of Gapyeong requiring KRW60 million of investment and the same will be done at Yeoncheon district costing KRW90 million.

Upon this plan, 35 facilities including 18 roads, 6 waterways, 5 streetlights, 4 signboards, 2 drainages and etc. will be reformed.

Small and medium enterprises located in the northeastern areas of Gyeonggi where is relatively lagged behind than the other regions in business operation environment will receive various supports from the local province so to achieve a balanced improvement across all the regions.

Areas where the small enterprises are crowded, are appeared to have inferior entrances and exit roads and also appeared to be insufficient in the number of streetlights, direction boards and etc., which make corporate business difficult to be operated.

During the last one-month period, Gyeonggi implemented a field analysis on 50 sites that applied for reformation and the final 30 sites are confirmed to receive provincial support for facility improvement.

“12,630 employees of 1,236 local enterprises will be benefited thru this plan of environmental improvement. Also, the corporate productivity and competitiveness is expected to improve,” said an official from the Gyeonggi province.