Korea SMEs and Startups Agency Hosts 'Stainless Future Leading Idea Contest' with 10 Million KRW Prize

[Asia Economy Reporter Kwak Min-jae] The Korea Federation of Small and Medium Business (KSMB), together with the Korea Iron & Steel Association and POSCO, announced on the 22nd that they will hold the "Stainless Future Leading Innovation Idea Discovery Contest."

The eligible applicants are small and medium-sized enterprises (SMEs), SME cooperatives, and affiliated research institutes. This contest was organized to discover creative product or technology ideas utilizing stainless steel materials in future-leading fields such as hydrogen and renewable energy.

Submitted product and technology-related ideas will be evaluated by experts focusing on marketability and technical feasibility, with final selections made in July. Selected companies will receive certificates, a prize of 10 million KRW, and customized support from POSCO.

Choo Moon-gap, Head of the Economic Policy Division at KSMB, said, "We hope this contest will foster win-win cases between large and small-medium enterprises in the stainless steel sector," and added, "We encourage active participation and interest from SMEs with good ideas."

Proposals and related documents can be submitted through the submission page on the KSMB website until the 10th of next month. For inquiries, contact KSMB or the Korea Iron & Steel Association.

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