Lee Young, Minister of SMEs and Startups, "Linking Delivery Prices... Punitive Damages for Technology Theft"

Lee Young, Minister of SMEs and Startups (Photo by Yonhap News)

[Asia Economy Reporter Ryu Taemin] Lee Young, Minister of the Ministry of SMEs and Startups, attended the SME Leaders Forum held in Jeju on the 29th and said, "We plan to closely analyze the pilot operation process of the delivery price linkage system and prepare legislative measures that can be accepted in the market."

As demands for the legislation of the delivery price linkage system increased among SMEs, the Ministry of SMEs and Startups has been conducting a pilot operation of the linkage system for companies that wish to participate since this month. Forty-one consignment companies, including Samsung Electronics and Hyundai Motor Company, are participating in the pilot project.

Minister Lee also announced plans to promote the advancement of smart factories to support the innovative growth of SMEs and to establish a high-risk R&D project worth 10 billion won to enable SMEs to participate in challenging technology development (R&D).

He said, "We will also work to strengthen technology protection measures for SMEs by introducing a technology protection policy insurance with a limit of 10 million won and enhancing punitive damages in cases of technology theft," adding, "We will prepare detailed plans so that domestic SMEs can play a pivotal role in the 'Era of Wise Technology' together with the United States."

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