Small and Medium Business Technology Information Promotion Agency, Opening of the 'Sejong Era'

Starting Work at Sejong New Office from the 3rd

[Asia Economy Reporter Kim Jong-hwa] The Small and Medium Business Technology Information Promotion Agency (TIPA), the only dedicated institution for technological innovation and research and development (R&D) under the Ministry of SMEs and Startups, has relocated to its new office in Sejong New Town and started operations from May 3.

TIPA is a quasi-governmental organization focusing on supporting the creation of new industries for small and medium-sized enterprises (SMEs) and startups in the era of the Fourth Industrial Revolution through R&D and the dissemination and advancement of smart factories. This year marks its 19th year at the forefront of SME and startup policy implementation.

TIPA's new office is located in Jiphyeon-dong, 4-2 Life Zone, Sejong City, consisting of one basement floor and seven above-ground floors, housing workspaces and evaluation spaces. The relocation began on the 1st and has been completed. The office accommodates approximately 260 employees, including about 200 staff from TIPA headquarters and 48 employees from the Smart Manufacturing Innovation Promotion Team, established as a subordinate organization in 2019.

With the expansion of previously insufficient workspaces and corporate evaluation areas, work efficiency is expected to improve, and services for SMEs and startups will be further strengthened. Additionally, synergy effects are anticipated through exchanges and cooperation with related organizations such as the Korea Institute of Startup & Entrepreneurship Development, which settled nearby earlier, and companies residing in the Knowledge Industry Center.

TIPA has led the creation of an innovative growth ecosystem for SMEs and startups, the backbone of Korea's economy and industry, enabling them to innovate based on excellent technological capabilities and grow into global strong small giants.

As of this year, TIPA's total budget under its responsibility is approximately 1.8 trillion KRW, the largest ever, and its workforce has increased by about 40% over the past three years, firmly establishing itself as a public institution supporting SMEs and startups.

Lee Jae-hong, President of TIPA, stated, "The new beginning in Sejong is an opportunity for TIPA to take a leap forward," adding, "We will continue to discover promising SMEs and startups and strengthen our work capabilities to enhance the ecosystem-centered support system."

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