Ministry of Land, Infrastructure and Transport Holds Briefing Session on Support Projects for Railway Companies

[Asia Economy Reporter Chunhee Lee] On the afternoon of the 6th, the Ministry of Land, Infrastructure and Transport announced on the 5th that it will hold a 'Joint Briefing Session for Support of Mid-sized and Small and Medium Enterprises in the Railway Sector' at the Korea Railroad Corporation (KORAIL) Seoul Headquarters Auditorium.

This briefing session is expected to serve as a platform for explaining the support projects currently being promoted or planned by various ministries, including the Ministry of SMEs and Startups and the Ministry of Trade, Industry and Energy, to support the growth of companies in the railway sector.

The event is held for representatives of small and medium enterprises in the railway vehicles, parts, and systems sectors. In addition to company representatives, about 100 people including officials from the Korea Agency for Infrastructure Technology Advancement, which supports technology development, KORAIL, Korea Rail Network Authority, and Seoul Metro, which are major demand sources in the railway industry, are expected to attend.

At the event, the Korea Railroad Association will provide detailed information on the 'Overseas Certification Acquisition Support Project' currently being implemented by the Ministry of Land, Infrastructure and Transport to support railway companies' overseas expansion. Afterwards, the Ministry of SMEs and Startups will explain the 'Purchase-Conditioned New Product Development Project' and the 'Technical Development Project for Products Conforming to Overseas Certification Standards,' and the Ministry of Trade, Industry and Energy will introduce the 'World Class Plus' project planned to promote mid-sized enterprises.

The Ministry of Land, Infrastructure and Transport plans to require all attendees to wear masks and place hand sanitizers inside and outside the venue to prepare for the recently spreading novel coronavirus infection (Wuhan pneumonia).

Hwang Seong-gyu, Director of the Railway Bureau at the Ministry of Land, Infrastructure and Transport, said, "At the railway industry development meeting held last December, we received many suggestions from participating companies regarding the need for government support," adding, "We plan to actively support enthusiastic railway companies that have secured or are pursuing core technologies to grow into mid-sized enterprises and smoothly enter the global market through close cooperation not only with the Ministry of Land, Infrastructure and Transport but also with related ministries."

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