Korea Federation of SMEs, Recruiting Participating Companies for 'Large-Small Win-Win Smart Factory' Program
Priority Support for COVID-19 Protective Equipment Manufacturers and Businesses Affected by Operational Shutdowns
[Asia Economy Reporter Kim Heeyoon] The Korea Federation of SMEs announced on the 28th that it is recruiting companies to participate in the 'Large and Small Business Win-Win Smart Factory Construction Support Project,' which is being promoted in collaboration with the Ministry of SMEs and Startups and POSCO.
According to the Federation of SMEs, this project aims to enhance the competitiveness of manufacturing sites in small and medium-sized enterprises. The goal is to establish smart factories for about 500 companies through support totaling 20 billion KRW by 2023. This year, approximately 100 companies will be supported.
Following last year, priority support will be given to COVID-19-related companies manufacturing quarantine supplies such as test kits, masks, and protective clothing to prevent the spread and early end of COVID-19. Additionally, companies that have experienced operational shutdowns or implemented remote work will also be prioritized.
Participating companies can receive project funding ranging from 84 million to 240 million KRW, covering up to 60% of the total project cost depending on the support type. Basic level companies can receive 100% support for project costs up to 20 million KRW.
Furthermore, for participating companies, POSCO group’s specialized consultants in various fields will provide 'Smart Capability Enhancement Consulting,' transferring POSCO’s accumulated innovation know-how to SMEs. This consulting applies POSCO’s unique production site management innovation technique, QSS, to diagnose the conditions of SMEs and identify improvement measures.
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Jung Wookjo, Head of the Innovation Growth Division at the Federation of SMEs, said, “We hope that the win-win smart factory support project with POSCO will serve as an opportunity to expand large corporations’ social responsibility management,” adding, “The spread and advancement of smart factories will promote the digital transformation and strengthen the innovation capabilities of SMEs, serving as a stepping stone to overcome the COVID-19 crisis and leap forward.”
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