Ulsan City Fully Supports Automotive Parts Companies in Industry Transition and Business Diversification

[Asia Economy Yeongnam Reporting Headquarters Reporter Ju Cheol-in] Ulsan City and Ulsan Technopark announced on the 5th that they are recruiting companies to participate in the 'Future-Oriented Business Model Consulting' program until the 25th to support the industry transition and business diversification of automobile parts companies.

The recruitment target is small and medium-sized enterprises producing automobile engine parts and power transmission parts.

According to the city, with the recent shift to future vehicles, the sales and composition ratio of electronic components in finished vehicles are increasing. However, the business areas of engine and power transmission parts are shrinking.

Accordingly, the city is promoting a project that analyzes the industry transition and business diversification capabilities of automobile parts companies and proposes solutions.

A total of 10 companies will be selected to receive 'growth consulting' support worth around 2 million KRW. Among these companies, 2 will receive 'business model establishment' support worth around 40 million KRW.

Growth consulting is divided into remodeling type, growth support type, and capability development type to assist customized growth according to type.

Business model establishment supports diagnosing company capabilities to derive mid- to long-term growth goals and success factors, establishing new product (technology) business models according to external environmental factors, and creating customized implementation plans.

The city plans to promote tailored linkage with innovation institutions including Ulsan Technopark, government, and local government support projects for companies that successfully complete the consulting.

It also intends to provide follow-up support such as securing funding for commercialization and preparing preferential measures.

Participating companies will be selected through document review and on-site evaluation, with no separate company burden. For more details, refer to the Ulsan Technopark website.

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