Changwon City's Small and Medium Enterprises Show 'Growth Trend' in Material and Component Technology Competitiveness

Glocal Materials and Components Development Support Project ... 8.4% Increase in Sales, 5.5% Increase in Employment

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Changwon City’s ‘Glocal Materials and Components Development Support Project,’ aimed at strengthening the technological competitiveness of small and medium-sized enterprises, has shown high satisfaction with improvements in companies’ growth indicators according to the project’s final report.

The Glocal Materials and Components Development Support Project is a Changwon City initiative launched last July as a response to Japan’s removal from the whitelist, supporting the localization of materials and components and the development of promising export products.

Six companies selected for this project, including Samsin Machinery, received support tailored to their technological levels, ranging from prototype production and test analysis cost support to development consulting, which proved to be practically helpful in strengthening their R&D capabilities.

These companies recorded tangible results, with average increases of 8.4% in sales, 7.8% in exports, and 5.5% in employment compared to the previous year.

Ryu Hyojong, Director of the Smart Innovation Industry Bureau, stated, “To increase the localization rate of materials and components, we will identify small and medium-sized enterprises with growth potential and work together with demand companies to equip them with global technological competitiveness through continuous effort and consideration.”

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