as an Opportunity for Small and Medium Enterprises... From Market Development to Growth Support

244 New Technologies Selected Over 9 Years
1.306 Billion KRW Worth of LH Site-Applied Products

Korea Land and Housing Corporation (LH) has reported increased sales and expanded market access for companies selected in its ‘New Technology Contest for Small and Medium Enterprises (SMEs).’

According to LH on the 9th, a total of 244 new technologies were selected over nine years through the New Technology Contest for SMEs (as of the end of last year), and technologies and products worth approximately 130.6 billion KRW have been applied at LH sites. In particular, excellent technologies and products from SMEs that had previously struggled to find markets and had not been applied on-site secured initial market channels, including deliveries to public institutions such as LH sites, through ‘LH Certified New Technology Selection,’ laying a foundation for stable growth.

Image of the solar power generation device product (left) by Wonkwang S&T and the bolt-assembled PDF reservoir by PL Tech Korea, selected for the 'LH Certified New Technology Contest Project'.
[Photo by LH]

For example, Wonkwang S&T, a company specializing in solar power generation devices, saw its orders increase at apartment construction sites after being selected in the 2020 LH Certified New Technology Contest. Its sales doubled from about 7 billion KRW to approximately 14.6 billion KRW last year. The company also expanded its market to public institutions beyond LH by receiving innovation technology certification from the SOC Technology Market, an integrated certification platform for social overhead capital (SOC) public institutions.

PL Tech Korea, a company specializing in prefabricated water tank construction, saw sales increase by about 140%, from 6.5 billion KRW to 9 billion KRW, after its bolt-assembled PDF water tank received LH new technology certification in 2020. The company is currently considering hiring new staff due to increased sales and is preparing to enter overseas markets.

LH plans to hold two more new technology contests this year. It aims to expand the discovery of new technologies in specialized fields such as zero-energy housing and inter-floor noise reduction, strengthening new technology certification in ESG (environment, social, and governance) areas.

In addition, LH supports research and development (R&D) for SMEs with innovative technology development ideas in urban and construction fields. Over the past eight years since 2015, LH has contributed 10.4 billion KRW to the Foundation for Cooperation between Large, Medium, and Small Enterprises and Rural Areas to indirectly support SME technology development. Since 2020, LH has also contributed 2.8 billion KRW in funds to support productivity improvements through facility investments and process innovations, such as smart factory establishment and process quality enhancement.

Joint R&D projects with SMEs are also underway. LH offers a 20% reduction in technology fees paid to the corporation during technology development and provides incentives when SMEs achieve agreed joint goals such as cost reduction through cooperative projects, among various support programs.

LH has also taken steps to stabilize SME employment in cooperation with the Small and Medium Business Corporation’s ‘Tomorrow Filling Deduction’ program. When key SME personnel remain employed for more than five years, LH covers 100,000 KRW of the monthly SME contribution of 240,000 KRW for incentives paid to those personnel. This year, the program will expand its target to include young workers employed at manufacturing and construction SMEs with fewer than 50 employees.

Jung Woon-seop, Head of LH Construction Safety Technology Headquarters, stated, “Last year, LH purchased 8.6 trillion KRW worth of products from SMEs, accounting for 85.3% of all purchased products, including those discovered through SME new technology certification. We will establish a systematic support system to discover new technologies and expand market channels for SMEs, creating a construction industry ecosystem where SMEs with technological capabilities can grow.”

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