Ministry of SMEs and Startups Supports 1.7229 Trillion KRW for Technology Development in 2021
Focused Support on Promising Areas such as Korean New Deal, Future New Industries, and Materials, Parts, and Equipment
2021 Integrated Announcement of SME Technology Development Support Projects
[Asia Economy Reporter Kim Jong-hwa] The Ministry of SMEs and Startups announced on the 20th that it will conduct the '2021 Integrated Announcement of SME Technology Development Support Projects' worth 1.7229 trillion KRW.
This is the largest scale ever, increasing by 239.5 billion KRW compared to 1.4834 trillion KRW in 2020, to enable the realization of a Smart Korea and leap forward as a global digital powerhouse.
In particular, emphasis is placed on the successful promotion of the Korean New Deal, rapid support for promising future new industries and technology independence in the materials, parts, and equipment sectors, and fostering an ecosystem that promotes the challenges and innovations of SMEs.
Additionally, eight distinctive projects worth 49.2 billion KRW will be newly supported, including technology development exclusively for manufacturing SMEs in Chinese technology sectors facing difficulties due to latecomers such as China, technology development for quarantine supplies, and smart information and communication technology (ICT) solution development, utilizing advanced infrastructure such as synchrotron accelerators and supercomputers.
Looking into the details of the Ministry of SMEs and Startups' 2021 technology development support projects, first, 560 billion KRW will be concentrated on future promising strategic fields for SMEs and startups, such as the Korean New Deal, future new industries, and materials, parts, and equipment sectors.
To foster an innovation ecosystem that promotes the ventures and challenges of SMEs, 300 billion KRW will be supported, and through support for public sector innovative procurement and package support from commercialization planning to marketing, the commercialization performance of technology development products will be strengthened. It plans to support low-interest loans for commercialization funds worth 3.5 trillion KRW over three years and private investment worth 100 billion KRW for technology development SMEs.
Furthermore, to alleviate the burden on SMEs due to the ongoing COVID-19 pandemic and to improve the expertise and fairness of technology development support, the evaluation system will also be improved.
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A Ministry of SMEs and Startups official explained, "Detailed information on support targets, support contents, and conditions will be shared through detailed announcements for each project in the future," adding, "The integrated announcement and subsequent detailed project announcements can be found on the Ministry of SMEs and Startups website, the Corporate Yard, and the Technology Development Project Integrated Management System."
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