"Seeking Mid-sized Companies to Soar with 'SoBuJang Powerhouse' Germany Wings"

KIAT Selects Tenants for Korea-Germany Materials, Parts, and Equipment Technology Cooperation Center

Seok Young-cheol, President of Korea Institute for Advancement of Technology (KIAT)

[Asia Economy Reporter Kim Bo-kyung] The Korea Institute for Advancement of Technology (KIAT) announced on the 29th that it will select medium-sized enterprises to move into the 'Korea-Germany Materials, Parts, and Equipment Technology Cooperation Center,' promoted by the Ministry of Trade, Industry and Energy.

For companies moving into the center, various activities will be supported to promote innovative growth and enhance global capabilities by establishing technology cooperation partnerships with German institutions possessing core technologies in materials, parts, and equipment.

The center, which will open in Germany this May, is expected to serve as a stepping stone providing new innovation and market entry opportunities to medium-sized enterprises with relatively low overseas recognition and somewhat limited capabilities but strong willingness for global cooperation.

Resident companies can systematically utilize local networks for corporate support such as the NRW federal state, Aachen Economic Development Agency, Aachen Special Zone City, and Aachen University of Technology to receive support for exploring desired cooperation technologies and institutions, joint research and technology transfer, commercialization, and thereby gain global business opportunities.

Seok Young-cheol, President of KIAT, evaluated, "We will foster global trust in our medium-sized enterprises by accelerating their overseas expansion through global technology cooperation hubs and securing stable networks with local research institutes and universities."

He added, "In response to Japan's export regulations, we will secure the competitiveness and global competitive advantage of our medium-sized enterprises through cooperation with Germany, a powerhouse in materials, parts, and equipment."

An explanatory session on center operations and the selection of resident companies is scheduled to be held at 2 p.m. on the 31st at the Sangjanghoe Social Hall located in Mapo-gu, Seoul, and application documents can be found on the KIAT website.

This content was produced with the assistance of AI translation services.