Hanwha Systems Signs 'Caring Company' Agreement... "Fostering Promising Ventures"

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[Asia Economy Reporter Junhyung Lee] On the 12th, the Ministry of SMEs and Startups announced that it signed a business agreement for considerate companies with Hanwha Systems and the Foundation for Cooperation between Large, Small, and Medium Enterprises and the Agriculture, Fisheries Sector at Hanwha Systems Yongin Integrated Research Center located in Yongin, Gyeonggi Province. The theme of this agreement is "Fostering promising SMEs and startups with core technologies in the materials, parts, and equipment (SoBuJang) and new business sectors."

Hanwha Systems was selected as the third company under the "Considerate Company 2.0" initiative through this agreement. A considerate company is an abbreviation for a "voluntary win-win cooperation company." It refers to companies that share their capabilities and know-how with companies and small business owners they have not previously transacted with.

Through this agreement, Hanwha Systems will promote partnerships to foster promising SMEs and startups in the SoBuJang sector and new business areas such as satellites, artificial intelligence (AI), and blockchain. According to the Ministry of SMEs and Startups, Hanwha Systems is a company that discovers SMEs possessing core technologies related to the 4th Industrial Revolution and can provide practical support to them.

Specifically, Hanwha Systems will establish a joint investment fund worth 10 billion KRW over the next three years. This fund will support technology development funds for SMEs with core technologies. It will also provide opportunities for joint participation in large government projects by signing strategic business agreements with SMEs and startups. Hanwha Systems will support education such as printed circuit board (PCB) design in the aviation sector to enhance the technological capabilities of SMEs.

A win-win growth fund worth 31 billion KRW will also be established. Hanwha Systems will support low-interest loans for management funds to small partner companies through this fund.

Kim Yeon-cheol, CEO of Hanwha Systems, stated, "Taking this agreement as an opportunity, we will discover capable SMEs and startups and devote ourselves more to win-win activities for mutual growth," adding, "We will also strive to establish ESG (environmental, social, and governance) management."

Minister Kwon Chil-seung of the Ministry of SMEs and Startups said, "Hanwha Systems is a leading domestic defense company with global-level technological capabilities," and added, "I ask for active cooperation with SMEs and startups so that our country can lead advanced defense facilities and fields such as UAM."

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