Minister Park Young-sun: "Post-Corona... Actively Supporting Promising R&D Ventures"

[Asia Economy Reporter Moon Hyewon] Park Young-sun, Minister of SMEs and Startups, said on the 4th, "We will actively support promising R&D companies to scale up by significantly strengthening domestic and international marketing using K-Bio, Brand-K, and other initiatives."

Minister Park made this statement during a meeting with R&D performance companies in the quarantine and untact sectors held at Tipstown in Gangnam-gu, Seoul, in the afternoon.

The meeting was attended by five companies in the quarantine and diagnostic fields that have accumulated technological capabilities through the Ministry of SMEs and Startups' R&D, and three companies in the untact sector leading the post-COVID-19 era.

The meeting proceeded with a presentation titled "Post-COVID-19 Outlook and Response Directions for SMEs" by Kim Su-ok, CEO of JinMatrix and an expert in the bio-diagnostic field, followed by sharing achievements, product demonstrations, and discussions on solutions to address difficulties.

Representatives of participating companies requested policy support for follow-up R&D, smart factories, mass production funds, and exports to help innovative products of SMEs and startups achieve commercialization results, along with active stockpiling and product purchases by public sectors such as the Korea Disease Control and Prevention Agency.

Minister Park said, "Starting this year, the Ministry of SMEs and Startups has implemented a system designating excellent technology development products as innovative products, allowing public institutions to make direct contracts. The rapid shift to a digital economy due to the COVID-19 crisis will be a golden opportunity for our SMEs and startups, equipped with a spirit of challenge and quick adaptability in their DNA, to leap forward as global leaders."

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