Ministry of Industry to Support Salaries for Mid-sized Companies' Researchers for up to 3 Years... Preference for Daegu and Gyeongbuk

[Asia Economy Reporter Kim Bo-kyung] The government is stepping up support for mid-sized companies facing a shortage of research personnel.

On the 8th, the Ministry of Trade, Industry and Energy announced that it will recruit participating companies for the '2020 Mid-sized Company Core Research Personnel Growth Support Project' until the 12th of next month to promote research and development in mid-sized companies and induce job creation.

In particular, this year, companies located in Daegu and Gyeongbuk, which are expected to suffer damage from the novel coronavirus disease (COVID-19), as well as mid-sized companies outside the metropolitan area, will be given preferential treatment during selection to ensure that their technology development activities proceed without disruption.

This project targets early-stage mid-sized companies with annual sales under 300 billion KRW that have dedicated research and development organizations such as company-affiliated research institutes.

Selected participating companies can receive support of up to 40% of the contract annual salary for up to three years for newly hired young science and engineering master's and doctoral graduates and experienced technical research personnel.

Since the project began in 2018, support has been provided for the hiring of 104 research personnel (64 companies) in mid-sized companies, and through this year's evaluation, about 30 new hires (300 million KRW) will be newly supported.

Companies wishing to participate in the project can apply through the Korea Institute for Advancement of Technology website.

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