Ministry of SMEs and Startups Invests 18.3 Billion KRW in R&D for Process Improvement in Small and Medium Manufacturing Enterprises

[Asia Economy Reporter Kim Bo-kyung] The government will invest 18.3 billion KRW in the first half of this year to support process innovation technology development (R&D) for manufacturing SMEs.

The Ministry of SMEs and Startups announced on the 19th that it will promote the '2023 Process Quality Technology Development Project.' This project supports the development of process technologies aimed at improving productivity, such as reducing defect rates and lowering costs in manufacturing processes, with a budget of 18.3 billion KRW allocated for the first half of this year.

The project is divided into ▲ digitalization of manufacturing SMEs (on-site R&D) and ▲ customized technology development support for ESG (environment, social, and governance) transition (innovative R&D).

On-site R&D is a project to improve the productivity of SMEs with limited financial resources. This year, to respond to the demand for digitalization and manufacturing innovation and to promote digitalization of small-scale manufacturing companies highly dependent on specific equipment, priority support will be given to tasks in the 'Digital Retrofit' field.

Digital retrofit refers to a short-term process improvement method that involves adding sensors, monitoring systems, network devices, and other equipment to improve the performance and digitalization of aging machinery and devices.

Innovative R&D supports process improvement technology development for manufacturing SMEs that have established or plan to establish smart factories. This year, to reduce environmental pollution and prevent industrial accidents during the process, the project plans to improve the management environment in connection with the SME strategic technology roadmap.

The application period is from July 3 to July 20. Detailed information on support conditions can be found on the Technology Development Project Integrated Management System website and the Pan-Government Integrated Research Support System website.

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