Korea Hydro & Nuclear Power Supports Productivity Improvement for 33 SMEs... "1.8 Billion KRW Invested This Year"

"2020 Small and Medium Business Productivity Improvement Support Project" Officially Launched
"Support for COVID-19 Affected Companies Beyond Nuclear Power Cooperation Firms"

[Asia Economy Reporter Moon Chaeseok] Korea Hydro & Nuclear Power (KHNP) announced on the 12th that it has officially launched the 'Productivity Improvement Support Project' targeting 33 small and medium-sized enterprises (SMEs). This year, 1.8 billion KRW will be invested.

KHNP is conducting the project by dividing it into the 'Industrial Innovation Movement Project' and the 'Large-Small Win-Win Smart Factory Construction and Advancement Support Project.'

The Industrial Innovation Movement Project is a program that provides expert consulting for technological innovation, improvement of work environment, and production process enhancement in collaboration with the Korea Productivity Center, as well as establishing new facilities.

Support funds of 30 million KRW per company will be provided this year to 15 SMEs including Yeongpung Industry. An additional 15 companies will be supported next year.

The Smart Factory Construction Support Project, in cooperation with the Korean Standards Association, involves establishing on-site automation systems and equipment to enhance manufacturing innovation competitiveness of SMEs.

A total project cost of 1.35 billion KRW, including government subsidies, will be provided up to 300 million KRW per company across three sectors including the advancement sector. This year, 18 SMEs including INEM were selected.

KHNP stated that not only nuclear power plant partner companies but also companies affected by the novel coronavirus disease (COVID-19) are included in the support targets.

The plan is to contribute to economic revitalization by helping stabilize the management of these SMEs.

Jung Jae-hoon, CEO of KHNP, expressed his expectation, saying, "Because the potential of our SMEs is limitless, through this project they will be reborn as companies with solid competitiveness."

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