76 Billion KRW Support for Technology Development of Overseas Certified and Standard-Compliant Products by SMEs

[Asia Economy Reporter Kim Jong-hwa] The Ministry of SMEs and Startups is supporting small and medium-sized enterprises (SMEs) that are struggling with exports due to the burden of developing products that meet the certifications and standards required by export countries and associations.

On the 12th, the Ministry announced the launch of the "2022 Overseas Certification Standards Conforming Product Technology Development Project," which supports the development of products that comply with the certification standards of export countries to help SMEs enter overseas markets.

The "Overseas Certification Standards Conforming Product Technology Development Project" is a program that assists SMEs in developing new products that meet overseas certification standards, thereby strengthening their export competitiveness.

For SMEs to enter overseas markets, they must bear the burden of simultaneously developing products that meet the certifications and overseas certification standards required by each country and association, as well as conducting certification tests.

Accordingly, through the Overseas Certification Standards Conforming Product Technology Development Project, the Ministry supports companies facing difficulties in entering overseas markets by assisting them in obtaining overseas certifications such as those from the United States (FDA, EPA) and Europe (CE), helping them succeed in commercialization and expand exports.

Suprema Co., Ltd., supported by this project, secured contactless deep learning-based facial recognition technology and products, obtaining European (CE, WEEE, REACH) and U.S. (FCC) certifications. Additionally, recognized for its technology and marketability, including holding the second-largest global market share in the biotechnology-based security sector, its sales increased by more than 85% after technology development.

IoFlow Co., Ltd., which developed a "body-attached insulin injection technology based on a domestically produced electro-osmotic pump drive unit," obtained European (CE MDD) certification and entered the global market through this R&D support project, achieving approximately 3.5 billion KRW in sales through exports to Europe and signing an exclusive European export contract with the multinational pharmaceutical company Menarini Group.

The Ministry of SMEs and Startups stated, "This is the third year of the project, and the number of SMEs wishing to participate has increased every year, showing a high competition rate of 5.86 to 1 last year. This year, we plan to support 51 projects for the last time, and the project will be integrated and promoted through the 'Pan-Government Integrated Research Support System.'"

SMEs wishing to participate in the project can apply through the "Pan-Government Integrated Research Support System" from the 24th of this month until the 11th of next month. For more details, inquiries can be made to the SME Integrated Call Center.

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