Seoul City Supports Resource Circulation Technology Development…Up to 150 Million KRW per Technology

Promotion of New Projects Supporting Advancement and Commercialization of Resource Circulation Technology Development
Applications Accepted Until the 31st of Next Month

[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 28th that it will expand the scope of its technology development support projects, which have so far focused on waste disposal, to promote technology development support projects in the resource circulation sector aimed at fundamentally reducing waste generation. Resource circulation refers to the environmentally friendly use and management of the resource circulation process, such as suppressing the generation of waste and properly recycling or treating the generated waste.

Seoul City, in collaboration with the Seoul Institute of Technology, will support technologies with a Technology Readiness Level (TRL) of 6 to 9 (from prototype performance evaluation to commercialization stage), providing up to 150 million KRW per technology. For stages 6 to 7, it will support advanced technology R&D, and for stages 8 to 9, it will support demonstrations to promote market entry.

Eligibility for participation includes individuals, corporations, and organizations participating in Seoul's waste reduction and resource recycling promotion, or individuals, corporations, and organizations based in Seoul conducting research and technology development projects for resource recycling promotion. Participants must bear 10% of the project cost (5% cash + 5% in-kind).

The application period for participation is until 6 PM on May 31, and applications are being accepted through the Seoul Institute of Technology’s ‘New Technology Submission Office’ website (www.seoul-tech.com). After the application period ends, final project participants will be selected through a written evaluation in June and a presentation evaluation in July, followed by contract signing and project implementation.

Jung Mi-seon, head of the Resource Circulation Division of Seoul City, said, “This project will serve as a stepping stone to foster a Seoul-type resource circulation industry,” adding, “We expect this to accelerate the transition to a resource circulation society.”

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