Junggi Joonganghoe-Samsung to Support 300 Companies in Building Smart Factories... Accepting Applications from Businesses

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[Asia Economy Reporter Kim Bo-kyung] The Korea Federation of SMEs and Samsung announced on the 28th that they will begin accepting applications for companies participating in the 2021 'Large and Small Business Win-Win Smart Factory Construction Support Project' starting from the 2nd of next month.

This project, launched in 2018 to promote manufacturing innovation and workplace innovation for small and medium-sized enterprises (SMEs) and mid-sized companies, is supported by the Ministry of SMEs and Startups and Samsung, each providing 10 billion KRW annually for five years, totaling 100 billion KRW. Over the past three years (2018?2020), the project has supported the construction of smart factories for 1,443 SMEs and mid-sized companies, and plans to support about 300 companies this year.

Companies without business relations with Samsung can also participate in this smart factory construction support project, and participating companies can receive project funding of up to 60% of the total project cost, with a maximum of 60 million KRW or 100 million KRW depending on the support type.

In particular, small enterprises constructing basic-level smart factories can receive up to 20 million KRW in project funding, supported up to 100% of the cost.

Participating companies will also receive follow-up support such as mentoring on manufacturing site innovation activities by 200 current Samsung Electronics experts, participation in the Smart Biz Expo for market development, video production for promotion by Arirang TV, and free access to Samsung-held patents.

The Korea Federation of SMEs also provides benefits such as reduced premiums for mutual aid and PL group insurance, preferential treatment for participation in export consultation meetings, awards, and additional points when participating in home shopping channel market support projects.

Detailed information about the Large and Small Business Win-Win Smart Factory Construction Support Project can be found on the Korea Federation of SMEs website. For inquiries, contact the Smart Industry Department of the Korea Federation of SMEs at 02-2124-4311~4.

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