Design Promotion Institute to Support Up to 22 Million KRW for Strengthening Design Capabilities... 25 Sites Selected

[Asia Economy Reporter Kim Bo-kyung] The Korea Institute of Design Promotion is recruiting participating companies for the 'Design Specialized Company Development and Globalization Project,' which supports the product development and manufacturing capabilities of design specialized companies, until the 1st of next month.

Selected companies can receive government subsidies of up to 22 million KRW per company (80% of total costs) for product and business model development. They can also benefit from workshops and expert coaching aimed at training professionals and ensuring product quality. Additionally, they will be eligible to participate in the newly launched 'Design Company Financial Support Project' this year.

Eligible applicants include ▲ design specialized companies that have launched or plan to launch new products, ▲ design specialized companies aiming to become design manufacturing service companies, and ▲ small and medium-sized enterprises without factories that wish to collaborate with design specialized companies and manufacturing services.

Last year, 10 design specialized companies received support for product development through this project. All these companies have completed their own product development and have been conducting sales and mass production since this year.

This year, a total of 25 companies will be selected through a three-stage in-depth evaluation process consisting of document review, presentation evaluation, and on-site evaluation.

Yoon Sang-heum, President of the Korea Institute of Design Promotion, stated, "We will actively support design specialized companies with excellent growth potential to discover future growth engines by diversifying their businesses beyond design services through government support."

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