Gyeongbuk Province Supports Prototype Production to Address Small and Medium Enterprise Challenges

Recruitment of Companies for Quality and Process Improvement Support Project

Up to 10 Million KRW for Prototype and Mold Modifications

Gyeongbuk Province is launching a project to support prototype production in order to resolve difficulties faced by small and medium-sized enterprises (SMEs).

On the 2nd, Gyeongbuk Province announced that it will promote the 2023 SME Quality and Process Improvement Support Project to help enhance the competitiveness of local SMEs through improved productivity and quality.

This project includes △prototype production at the stage of completed technology development △process improvements such as quality enhancement and cost reduction in manufacturing △support for acquiring intellectual property rights to protect technology. After a selection evaluation, Gyeongbuk Province plans to select seven companies and provide up to 10 million KRW per company.

Business Overview.

The eligibility criteria require SMEs to have their headquarters or factories located in Gyeongbuk Province as of the announcement date. Final support recipients will be selected after evaluating the appropriateness of the plan, technology development achievements, and ripple effects. The support funds will be paid after reviewing the companies’ project completion reports and supporting documents.

Companies wishing to participate in the project can apply via email from March 6 to 13 according to the announcement posted on the Gyeongbuk Technopark website.

Lee Young-seok, Director of the Economic and Industrial Bureau of Gyeongbuk Province, said, “Technology development is the foundation for responding to rapid changes in the industrial environment,” adding, “Gyeongbuk Province will continue to discover necessary support measures for companies from technology development to product production and market access.”

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