Marine Science and Technology Promotion Agency Supports Commercialization and Market Access for Tech-Savvy Marine Fisheries SMEs

Operation of Marine and Fisheries New Technology Certification System Since 2017

12 Certifications in the First Half of This Year
Financial Support upon Certification and Bonus Points for (R&D) Selection... Opportunities for Trial Construction in Marine and Fisheries Construction Projects
Operation of the Market Support Program 'Panda Project'

Cho Seung-hwan, President of the Korea Institute of Marine Science and Technology Promotion.

[Sejong=Asia Economy Reporter Joo Sang-don] The Korea Institute of Marine Science and Technology Promotion (KIMST) is actively supporting small and medium-sized enterprises (SMEs) in the marine and fisheries sector that "have technological capabilities but face difficulties in commercialization or market development" through the Marine and Fisheries New Technology Certification System.

On the 17th, KIMST announced that a total of 72 applications were received for the Marine and Fisheries New Technology Certification System in the first half of 2020, with 12 certifications granted. A KIMST official explained, "In the second half of this year, 55 applications have already been received so far," adding, "The overall scale of certified technologies this year is expected to exceed last year's level (22 cases)."

The Marine and Fisheries New Technology Certification System expanded the scope from the Fisheries Food New Technology Certification System operated in 2015-2016 to cover all fields in marine and fisheries starting in 2017, following the enforcement of the Marine and Fisheries Science and Technology Promotion Act.

Applications for the Marine and Fisheries New Technology Certification can be submitted by companies, government-funded research institutes, and universities. Eligible technologies are those that have undergone trial production or productization and whose performance has been verified by an accredited institution in the relevant field. Among these, technologies that are ▲commercializable within the next two years ▲significantly improve the performance of existing products are eligible for certification. Also included are process technologies that can significantly enhance productivity or quality in the future.

The certification process begins with KIMST's project announcement, followed by stakeholder consultations and 1st to 3rd stage evaluations. In the 1st stage, newly submitted technologies are assessed for novelty, technical merit, industrial applicability, and public interest. The 2nd stage is an on-site verification for technologies that passed the 1st stage, evaluating field applicability and quality management. The final 3rd comprehensive evaluation reviews the appropriateness of the evaluation process, alignment with the purpose of the Marine and Fisheries New Technology Certification, and the necessity of certification. After this process, the Minister of Oceans and Fisheries issues the Marine and Fisheries New Technology Certification.

Certified technologies receive financial support under the Marine and Fisheries Science and Technology Promotion Act and are awarded bonus points (2 points) when selected for research and development (R&D). Additionally, opportunities such as trial construction in marine and fisheries construction projects are provided. Among three new technologies in port construction certified by marine and fisheries companies, two are supported for trial construction by the Ministry of Oceans and Fisheries, and one has been selected as a candidate technology, preparing for project participation.

Including nine prior fisheries food certifications, a total of 67 Marine and Fisheries New Technologies have been certified up to the first half of this year. Among companies that obtained certification, 12 have commercialized new technologies or applied products and achieved sales of approximately 7.2 billion KRW. Sales have increased from 118 million KRW in 2017 to 2.026 billion KRW in 2018 and 5.018 billion KRW in 2019.

For example, AwesomeRay, a manufacturer of X-ray generating devices, received certification this year for sterilization extreme ultraviolet (EUV) and X-ray generation technology using the next-generation new material Carbon Nanotube. AwesomeRay has developed prototypes based on this and is preparing for commercialization.

Additionally, KIMST facilitated public sector purchases of two products applying certified technologies, including an oil recovery device and an electric propulsion outboard motor with replaceable batteries, resulting in transactions worth 248 million KRW through the Korea Marine Environment Management Corporation and the National Federation of Fisheries Cooperatives under the Ministry of Oceans and Fisheries.

KIMST also operates the 'Panda Project,' a market support program for SMEs holding certified products. Through this, KIMST supports marine and fisheries companies certified for innovation, new technology, and green certification in overcoming COVID-19 and increasing sales by assisting in product market development and promotion. The program promotes one-on-one meetings between suppliers and buyers to boost sales, supports the production of English brochures for overseas market expansion, distributes articles and card news to raise certification awareness and promote excellent certified products, and uploads promotional content on social networking services (SNS). It also supports performance reviews through surveys and analysis of project outcomes to identify improvements.

Jo Seung-hwan, President of the Institute, stated, "We will continue to actively support SMEs with excellent marine and fisheries technologies facing difficulties due to COVID-19 and other challenges," adding, "We will do our best to complete a 'one-stop administrative service' from planning to research and commercialization to drive the growth of outstanding SMEs."

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