Gwangju City Promotes 'Smart Factory Distribution and Expansion Support Project'

Gwangju City Hall

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 2nd that it will invest 2 billion KRW of city funds this year to promote the ‘Smart Factory Distribution and Expansion Support Project’ for the smart manufacturing innovation of local small and medium-sized enterprises (SMEs) and mid-sized companies.

The ‘Smart Factory Distribution and Expansion Support Project’ is a program aimed at strengthening the competitiveness of local SMEs and mid-sized companies and creating quality jobs in preparation for the 4th Industrial Revolution. It supports the construction or advancement of smart factories.

This year’s project budget is a total of 2 billion KRW, four times the 500 million KRW from last year, with increased support funds and support ratios.

Last year, support funds were provided up to 30 million KRW within 10% of the total project cost for premium small and strong enterprises (including PRE premium small and strong enterprises) designated by the city, but this year, support is provided up to 40 million KRW within 20% of the total project cost for SMEs and mid-sized companies located in the region.

Additionally, the private-led smart factory construction support project for win-win growth between large and small businesses also provides support up to 20 million KRW within 10% of the total project cost.

Details such as eligibility, support contents, and conditions for each company can be found in the announcements posted on the city’s official website and the Gwangju Technopark website.

Lee Kyung, Director of Corporate Development at the city, said, “Until last year, the distribution of smart factories provided an opportunity to change the perception of local manufacturers. This year, we will spare no effort to support expanding the base of smart factories, advancing them, and smart manufacturing innovation so that local SMEs can compete in the global market.”

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