SME Cooperative 'Group Standard Establishment' Consulting... Up to 20 Million KRW Support

Headquarters of the Korea Federation of Small and Medium Business

[Asia Economy Reporter Kim Daeseop] The Korea Federation of SMEs announced that it will launch the '2020 SME Cooperative Association Group Standard Establishment Consulting Support Project' starting from the 1st of next month.

This project supports cooperative associations that need to establish group standards but face difficulties due to cost burdens and lack of internal capabilities, enabling them to establish group standards through expert consulting.

Cooperative associations wishing to establish group standards select consulting experts suitable for project execution, and both the cooperative associations and consulting providers participate in a consortium format. About 20 cooperative associations will be supported. Including the cooperative associations' self-contribution (30% of the total project cost), up to 20 million KRW per cooperative association will be supported.

The application period is until the 29th of next month. After the project briefing session, evaluation of new group standard establishment project plans from each cooperative association, selection of support targets, and contract signing, consulting for group standard establishment will be conducted from June to October this year.

Jung Wookjo, Head of the Innovation Growth Division at the Korea Federation of SMEs, said, "Cooperative associations have contributed to improving the productivity of SMEs and enhancing the quality competitiveness of products and services through standardization activities," adding, "Through the consulting support project, we hope to help expand market channels for SMEs by enhancing the functions of cooperative associations, developing high-quality standards, and performing fair and transparent certification tasks."

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