GS Group chairman Huh Chang-soo called for shared growth between big businesses and local small and medium-sized enterprises during his visit Thursday to the group-led creative economy innovation center in Yeosu, South Jeolla Province.

The Jeonnam Creative Economy Innovation Center was jointly established by the South Korean government and GS Group in June 2015 in a bid to nurture new businesses in the nation’s agricultural sector, drive up growth in the biomass chemicals industry and spur regional tourism.

There are 17 such centers nationwide, established by conglomerates and the government in line with its creative economy policy aimed at creating more SMEs across diverse industries.

Delivering a positive evaluation of the center’s achievements, the GS chief called for “continued efforts to revitalize the region’s agricultural and fisheries industries and to create new jobs and emphasized the importance of “shared growth with start-ups and mid-sized companies.”

“Change and innovation can synergize only when various actors come together under a cooperative relationship. GS Group must continue to offer smaller businesses more practical support in order to help them grow,” Huh said.

Since its establishment, the center has officially housed 17 start-ups, offering various forms of business support, training and consulting from related officials at GS affiliates.

These start-ups, together with additional actors supported by GS, have racked up some 5.2 billion won ($4.3 million) in sales over the eight-month period, according to the group.

This year, the center aims to nurture 38 more venture companies in the agricultural and fisheries sector and build new sales networks to boost both domestic and overseas sales, among further plans to expand the region’s biomass chemicals industry and tourism.

The government and GS Group have put forward a total of 139 billion won in funding to support the center’s various initiatives -- such as investment capital financing and loan provisions.

By Sohn Ji-young (jys@heraldcorp.com)