Jungjingong and LG Electronics Establish Foundation for Large and Small-Medium Enterprise Win-Win Structural Innovation

Promoting New Business Transition for Partner SMEs within the Supply Chain

The Small and Medium Business Corporation (Chairman Kang Seok-jin, hereinafter referred to as SBC) announced on the 11th that it has signed a 'Business Agreement to Strengthen Win-Win Cooperation between Large and Small Businesses' with LG Electronics (hereinafter referred to as LG Electronics). Based on this, it plans to support technology, manpower, and funds to create new growth engines for small and medium enterprises within the supply chain of large companies that need to transition to new businesses.

Small and Medium Business Corporation

SBC and LG Electronics agreed to actively cooperate in ▲establishing a win-win cooperation collaboration system and discovering success cases for LG Electronics' partner small and medium enterprises ▲identifying structural innovation demands of small and medium enterprises within the supply chain ▲preferential participation in mutual support projects such as finance and research and development (R&D) ▲discovering policy regulations and improving systems. In particular, taking this agreement as an opportunity, they plan to continuously support target companies across a wide range of fields such as manufacturing innovation, export expansion, and resolving regulatory difficulties to achieve results.

Kim Moon-hwan, Head of Innovation Growth Division at SBC, said, "We plan to actively support small and medium enterprises so that they can wisely overcome the industrial transformation crisis and strengthen their competitiveness."

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