Gyeonggi Province Selects 212 Promising SMEs, Including Deep.Plant

Deputy CEO Choi Kyung-hwa (far right of the front row) who received the certificate

Gyeonggi Province selected 212 promising small and medium-sized companies in the province with growth potential and awarded certificates and signboards.

Selection and Benefits

This year's selection process for Gyeonggi's Promising SMEs saw fierce competition, with 894 companies applying after the announcement in March, resulting in a 4.47-to-1 ratio. Following a document screening, on-site inspections, legal violation checks, and a certification review committee, a final total of 212 companies were selected. This includes 63 startups, 109 first-time certifications, and 40 re-certifications. Notably, the evaluation criteria were improved this year to discover and select more startups, which are a crucial element in building an innovative industrial ecosystem, leading to about 50 more startups being chosen compared to last year.

The province awarded the companies with a certificate and a plaque in the name of the Gyeonggi

Governor and granted them the right to use the "Promising SME" certification mark. Additionally, the companies will receive a wide range of benefits across 66 categories operated by nine different institutions, including preferential interest rates on SME development funds and extra points when applying for support programs. The certification period for new companies is five years (from this year to 2029), and for re-certified companies, it is three years (until 2027).

Program Impact and Company Spotlight

The Gyeonggi Province Promising SME Certification System is a project designed to discover SMEs with high growth potential and nurture them into leading companies in the local economy. Since 1995, the program has supported a total of 7,041 companies, including manufacturers, venture companies, and knowledge service businesses, providing a stepping stone for them to grow into outstanding global enterprises.

An analysis of 950 certified companies conducted this past August revealed that in the year following their certification, they achieved a total sales increase of 668.5 billion won and created 699 new jobs, demonstrating that the program not only strengthens corporate competitiveness but also leads a virtuous cycle of job creation.

Kim Cheol-beom, CEO of the food-tech company Deep.Plant, which was among the certified companies, stated, "I am delighted to be recognized by Gyeonggi Province as a Promising SME, following our selection as an A-Venture by the Ministry of Agriculture and Food. We will continue to contribute to the complete consumption of meat by utilizing meat data with our deep-aging technology." Deep.Plant is a startup with a patented aging technology that uses AI and a physical processing method ('deep-aging') to revive the taste and texture of low-grade, less-preferred cuts of meat.

"Gyeonggi Province is the center of economic growth, and SMEs are the sturdy backbone of the local economy and the core engine driving sustainable growth," said Kim Seong-joong, First Vice Governor for Administrative Affairs. "Gyeonggi Province provides various forms of support for innovative SMEs, including R&D, commercialization, and market development. We will continue to listen to the voices of businesses and strive to create a business-friendly environment."