100% Support for Small and Medium Enterprises' Smart Factory Construction... and Energy Efficiency Improvement Projects

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[Asia Economy Reporter Kim Bo-kyung] The Ministry of SMEs and Startups, the Korea Federation of SMEs, Korea Electric Power Corporation (KEPCO), and the Korea Productivity Center are recruiting participating companies for the 'Win-Win Smart Factory Support Project' from the 4th to the 22nd to promote manufacturing innovation in small and medium-sized enterprises (SMEs) in the six major root industries.

The support types are divided into Type 1 (Basic, 50 million KRW) and Type 2 (Small Enterprise, 20 million KRW). Participating companies can receive 100% of the project cost without any self-payment, and Process Innovation (PI) consulting by the Korea Productivity Center will also be provided concurrently.

SMEs participating in the project can receive additional points in the government's public procurement mid-term competitive product credibility evaluation, as well as preferential benefits such as extra points for R&D and policy funds. They can also receive benefits such as preferential treatment in the damage compensation and PL group insurance promoted by the Korea Federation of SMEs, export consultation meetings, awards for SMEs contributors, and extra points when participating in Home&Shopping.

Additionally, the Korea Federation of SMEs and KEPCO are jointly promoting a cooperative association joint facility replacement support project to improve energy efficiency for root companies and a core personnel long-term retention support project for management support. Applications are open until the 15th.

The cooperative association joint facility replacement support project supports up to 80% of the cost when root-related associations replace aging equipment installed in shared facilities such as substations and wastewater treatment facilities used by member companies with high-efficiency equipment. The core personnel long-term retention support project is a program where KEPCO covers half of the company’s contribution when root companies or cooperatives pay into the Tomorrow Filling Deduction.

Yang Chan-hoe, Head of the Innovation Growth Headquarters at the Korea Federation of SMEs, said, "The Korea Federation of SMEs and KEPCO will improve the energy consumption structure of root companies through win-win projects and minimize the burden on SMEs due to electricity rate increases."

For more details, please refer to the Korea Federation of SMEs website and the Sangsaengnuri website. For the smart factory project, an online briefing session will be held at 3 p.m. on the 6th.

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