Gyeonggi-do Supports Market Expansion and Technology Development for 'Root Companies,' the Backbone of Manufacturing Industry

Casting, Molding, Plastic Processing, Welding, Surface Treatment, Heat Treatment Industries

Reference photo [Asia Economy DB]

[Asia Economy Reporter Ra Young-cheol] Gyeonggi Province is promoting a project to establish a foundation for the advancement of the root industry (casting, mold, welding, heat treatment, etc.).

The project aims to improve productivity, develop sales channels, and strengthen the competitiveness of root industry companies in Gyeonggi Province.

This year, the province plans to support up to 3 million KRW per company in three areas?'Exhibition Participation Support,' 'Industry Conversion Consulting,' and 'Government Project Planning Consulting'?targeting root technology companies or cooperatives in 31 cities and counties.

'Exhibition Participation Support' covers participation costs for domestic and international exhibitions, industrial fairs, and export consultation meetings (including online). 'Industry Conversion Consulting' provides consulting costs for companies undergoing industry conversion or adding new industries, including industry analysis, technology, and market analysis.

In the 'Government Project Planning Consulting' area, consulting costs for preparing standard business plans will be supported for root companies wishing to participate in government projects.

Additionally, competitiveness enhancement projects for root companies or cooperatives (corporations) located in Ansan, Gimpo, Hwaseong, Bucheon, Yeoncheon, Gunpo, and Uiwang participating as city and county subsidy projects will be concurrently promoted.

Support ranges from a minimum of 1 million KRW to a maximum of 100 million KRW for ▲ R&D technology development ▲ certification acquisition ▲ performance certification testing and analysis ▲ improvement of chemical substance handling facilities ▲ corporate difficulty support ▲ marketing support ▲ installation and construction of shared infrastructure.

Ryu Gwang-yeol, Director of the Economic Office, said, "We will promote the strengthening of competitiveness of root companies, the foundation of manufacturing, through multifaceted support measures from research and development to sales channel development and participation in government projects."

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