Suwon City Plays a Strong Role as 'Incubator' for Promising Advanced Venture Enterprises...Contributing to Regional Economic Vitalization

[News S=Reporter Jung Jun-seong] Suwon City is effectively playing the role of an 'incubator' for promising advanced venture enterprises. Furthermore, Suwon City is gradually expanding its position as a city where it is good to do business. The fact that promising advanced companies are gathering in Suwon to create a better future attests to this. Suwon's business attraction and support encompass both startups with ideas and technology and small and medium-sized enterprises seeking new markets. As a result, Suwon City's economic vitalization is receiving more momentum than ever. We examine Suwon City's efforts to attract promising advanced venture and small and medium-sized enterprises, provide multifaceted support in funding, space, technology, and sales channels, and strengthen urban competitiveness together with enterprises.

◇27 Attracted Companies Promise to Create the Future in Suwon

A total of 27 companies have signed investment attraction agreements with Suwon City.

Beginning with the first agreement with SD Biosensor on July 1, 2022, four companies in 2023 and five companies in 2024 pledged to create their future in Suwon.

Subsequently, in 2025, 14 companies signed agreements to establish or relocate their headquarters or research facilities, visualizing the results of Suwon's active efforts in business attraction.

This year, three companies, including AI Korea, announced good news that they have chosen Suwon as their future base.

The companies attracted by Suwon are primarily enterprises leading advanced industries across diverse sectors including biotech, semiconductors, information technology, secondary batteries, and defense.

Companies with familiar consumer products recording sales in the trillions of won, such as pharmaceutical manufacturers (Boryung); companies leading the laser jet soldering system field (Laser Valtech Nology); and companies with the highest global market share in secondary battery electrolyte automatic supply systems (AI Korea), have continued to arrive.

Additionally, a Chinese company manufacturing automotive parts (TYW) established a Korean subsidiary in Suwon.

Furthermore, it plans to add research facilities and factories, demonstrating global enterprises' interest.

Suwon's business attraction is not merely a promise on paper but is gradually becoming reality.

Of the 27 companies that have attracted investment so far, 13 have completed relocation or establishment.

Companies from other local governments have moved or established their headquarters, research facilities, and factories to Gwanggyo-dong, Woncheong-dong, Ingye-dong, and Delta Plex in Suwon City.

Business attraction is expected to serve as a foundation for vitalization of Suwon's regional economy.

When the Suwon City Policy Research Institute analyzed the effects of Suwon City's business attraction, based on the 25th company, the projected investment amount reached 375.5 billion won and the employment effect reached 2,710 people.

The resulting production inducement is projected at 722.6 billion won, value added at 256.2 billion won, and employment at 2,727 people.

◇Saebit Fund and Saebit Loan Serve as Strong Supporters for Attracted Companies

Suwon City has not only attracted new enterprises but also actively sought and implemented ways to provide necessary assistance to existing enterprises.

In particular, through policies that facilitate essential cash flow during enterprise growth, it sought to create a virtuous cycle structure for the regional economy.

A prime example is the 'Suwon Enterprise Saebit Fund.'

The Saebit Fund, first launched by Suwon City in 2024 to support the growth momentum of enterprises in early stages, has a scale of 314.9 billion won.

Building on the success of the first fund, a second fund with a scale of 488.7 billion won was formed this year.

Combined, it exceeds 800 billion won, the largest scale among funds in which basic local governments have participated.

The Saebit Fund has committed mandatory investment in Suwon enterprises, and 24 companies have received 42.2 billion won in investment to date.

Suwon City established an accelerator fund in the second fund to connect small early-stage enterprises and investors.

As a result, it has structured customized support throughout the enterprise growth process, from startups to scale-ups.

The joint support business, nicknamed 'Saebit Loan,' has served as a timely rain resolving financial difficulties essential for small and medium-sized enterprises in the Suwon region.

Through cooperation between Suwon City, Industrial Bank of Korea, Credit Guarantee Fund, Technology Guarantee Fund, and Gyeonggi Credit Guarantee Foundation, it is a clever scheme allowing small and medium-sized enterprises in need of funds to receive both interest rate support and guarantee support at once.

Last year, it achieved the highest support performance (157 companies, 35.6 billion won) among loan support programs targeting small and medium-sized enterprises, showing high effectiveness and popularity.

There is also support for small and medium-sized enterprise promotion funds that provide loans and interest.

Particularly this year, through collaboration with Industrial Bank of Korea, facility funds were newly established among small and medium-sized enterprise promotion funds, expanding support scope not only to operating funds but also to enterprises requiring facility funds.

Additionally, guarantee support programs including special guarantees for small and medium-sized enterprises and special guarantees for content enterprises support small and medium-sized enterprises with insufficient collateral capacity.

For small content enterprises, guarantee standards are relaxed, guarantees are issued, and funds can be used at low interest rates.

◇Playing All-Around Problem-Solver Role for Space, Equipment, Technology, and Exports

Suwon City has endeavored to lend a necessary hand in resolving issues faced by regional small and medium-sized enterprises.

All-around support has been provided from hardware such as space and equipment to software including technology and systems.

First, Suwon City supports business space to help early-stage entrepreneurs and young entrepreneurs grow.

It operates enterprise facilities at a portion of the Enterprise Support Center located in Suwon Delta Plex and at the Youth Center of the Start-up Support Center located in Maessan-dong.

With stable rental conditions, a total of 86 companies have moved in and are enhancing their future growth potential.

Small and medium-sized enterprises or venture enterprises can also rent high-cost precision equipment that is difficult to possess.

Using Suwon Makers Space within Suwon City Enterprise Support Center, which serves as an enterprise support platform, can accomplish this.

With 26 types and 60 pieces of equipment including 3D printers, scanners, compressors, laser processing machines, vacuum forming machines, and dust collectors prepared, it is useful for small and medium-sized enterprises or small-scale startups in prototyping.

When enterprises encounter obstacles to growth in technology or management, various programs are also being promoted to provide support in resolving these issues.

Ten programs are utilized including technology doctors providing expert technical consulting and commercialization support, product design development support, intellectual property creation support, and customized management consulting.

Last year, a total of 835 companies received technical support.

The process of exporting quality products with technical capability and competitiveness is also made smoother through support.

A support project in cooperation with the Gyeonggin Regional Post Office that simplified export procedures for products produced by small and medium-sized enterprises from 5 steps to 1 step was used by 40 companies last year.

There is also promotional support in cooperation with the state-run Arirang TV broadcasting station, producing promotional videos for each small and medium-sized enterprise and broadcasting to 134 countries.

Additionally, it provides support programs that simplify export payment settlement periods and paperwork, helping strengthen export competitiveness.

◇Building Environment Where Individual Enterprise Support Goes Beyond to Growth Together

Suwon City has gone beyond supporting individual enterprises to build an environment where enterprise growth can proceed smoothly.

It provides support for regional enterprises and workers while creating venues for enterprises to communicate and creating opportunities for business expansion.

First, Suwon City is providing various support to improve the work environment at Suwon Delta Plex, where approximately 1,000 enterprises are located and approximately 18,000 workers are employed.

Since last year, Suwon City has been promoting the construction of a building combining a youth culture center and parking lot within Delta Plex and creating an open cultural square.

It also operates shuttle buses running between Suwon Station and Byeongjeom Station and Delta Plex for workers' convenient commuting; last year, 65,000 people used the service annually.

For resident enterprises, comprehensive solutions are actively provided to assist in their growth.

Networks have been strengthened to allow entrepreneurs active in Suwon to exchange information with each other.

The Suwon City Entrepreneurs' Day, which began in 2023, brings together entrepreneurs, investors, government agencies, and others to pledge the development of regional small and medium-sized enterprises.

It is being utilized as an active venue for exchange including exhibitions, consulting, special lectures, investment consultation sessions, and job fairs.

Along with this, the Maehol Venture Forum, which assists investment and growth of Suwon enterprises, launched in 2024 and is being utilized as a venue for active exchange and opportunities.

Large corporations, mid-sized enterprises, universities, investment specialized institutions, and startups in Suwon, totaling 231 people, are registered as members and are active.

It regularly holds lectures and investment attraction activities helpful for enterprise growth, laying the foundation for growth of Suwon enterprises.

An official from Suwon City said, “We hope enterprises choosing Suwon will grow into global leading companies in Suwon, where advanced research infrastructure is concentrated,” and added, “Suwon City will continue to build a strong support for the growth of Suwon enterprises.”