Prime Minister Jeong: "Discovering Small and Medium Enterprises, Providing Step-by-Step Support... Leading the Advancement of Smart Factories"

Fostering 12,000 Next-Generation Innovative Companies... Securing Leadership in the Global Industrial Ecosystem
Over 18,000 Smart Factories Distributed by Last Month, Average Corporate Productivity Up 30%

Prime Minister Jeong Sye-kyun

[Asia Economy Reporter Kwangho Lee] Prime Minister Chung Sye-kyun emphasized on the 12th, "We will discover small and medium-sized enterprises (SMEs) with innovation performance and potential, and strengthen support tailored to each stage from research and development (R&D) to commercialization and market development according to the size and characteristics of the companies." He also stated, "Through the implementation of various measures, including fostering 12,000 next-generation innovative companies in national core industries such as the digital and green New Deal, we will secure leadership in the future global industrial ecosystem."

At the 117th Government Policy Coordination Meeting held at the Government Seoul Office on the same day, Prime Minister Chung said, "Today’s meeting will discuss the 'Innovation-type Growth Strategy for Small and Medium-sized Enterprises,' which I have always emphasized to realize a 'jar-shaped economy with a strong waist' in earnest."

Prime Minister Chung expressed, "With the advancement of ICT technology in the era of the 4th Industrial Revolution and the normalization of non-face-to-face culture due to the novel coronavirus infection (COVID-19), rapid changes are occurring throughout the economic environment including production, consumption, and distribution." He added, "In this period of great transformation, a shift to a flexible and agile economic structure centered on small and medium-sized enterprises is necessary, rather than the industrialization-era development model of 'the upper water must flow for the lower water to flow.'"

At the meeting, the 'Smart Manufacturing Innovation Implementation Strategy' was also discussed. Prime Minister Chung explained, "The government has set the distribution of 30,000 smart factories as a key national task and has supported it in various ways. As of last month, more than 18,000 have already been distributed, achieving an average productivity increase of 30% for companies."

He continued, "Manufacturing powerhouses such as the United States and Germany are actively building high-level smart factories by integrating advanced technologies such as artificial intelligence, big data, and the Internet of Things. However, although we have a large number of smart factories distributed, there is criticism that their level remains at an initial stage."

Prime Minister Chung mentioned, "The government will comprehensively support from pre-consulting to post-management through the 'Online Smart Factory 1st Street' and lead the advancement of smart factories by establishing an artificial intelligence manufacturing platform capable of storing and analyzing generated data."

He added, "Many small and medium-sized business owners may have concerns about whether investing in smart factories will generate corresponding profits. I urge related ministries such as the Ministry of SMEs and Startups to actively communicate with the field so that small and medium-sized enterprises can invest without hesitation."

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