Gyeonggi-do Provides Up to 500 Million KRW Support for Manufacturing Automation Setup to U-Turn Companies

Gyeonggi Provincial Government

#1 Notban Anseong Bangjja Yugi Co., Ltd., which returned to Anseong City from overseas in 2018, has carried out tasks such as establishing a smart factory, robot-utilized manufacturing, and prototype production over the past three years through Gyeonggi Province's 'Domestic Return Enterprise Support Project.' In particular, by introducing manufacturing equipment for Bangjja Yugi tableware using robots, they increased productivity by more than 70%, improved the working environment by reducing exposure to high temperatures, and achieved remarkable results such as a 3,233% increase in export value compared to the previous year.

#2 Mectron Co., Ltd., which returned to Pocheon City in 2022, carried out a task to establish a production management system solution for building a smart factory, shortening manufacturing time and increasing on-time delivery rates. Last year, the technology introduced as a commercialization project was recognized, and the company received the Minister of Trade, Industry and Energy Award for contributions to the development of materials, parts, and equipment.

Gyeonggi Province provides up to 500 million KRW in manufacturing automation construction project funds to support the stable settlement of returning enterprises that have come back from overseas to Korea.

On the 1st, Gyeonggi Province announced that it will carry out a manufacturing automation project fund support program targeting companies located in the province that have received a 'Certificate of Selection as a Supported Domestic Return Enterprise' from the Minister of Trade, Industry and Energy.

Additionally, Gyeonggi Province will jointly conduct a survey with the Korea Trade-Investment Promotion Agency to identify the status of overseas expansion companies and their intention to return domestically, aiming to discover excellent returning enterprises in advanced technology industries.

Lee Min-woo, Director of Investment and Trade at Gyeonggi Province, said, "Through this manufacturing automation support, we expect domestic return enterprises to strengthen their competitiveness and contribute to industrial innovation," adding, "Gyeonggi Province will actively encourage excellent companies to return domestically to support business activities and strengthen the local industrial ecosystem."

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