Daejungso Cooperation Foundation Signs Agreement with KIAT for 'Win-Win Growth of Mid-sized and Small Businesses'

Establishing Performance Sharing and Collaboration Systems Between Companies
Supporting Seminars and Exchanges to Promote Technological Innovation Diffusion

The Foundation for Cooperation between Large, Medium, and Small Enterprises and Agriculture and Fisheries announced on the 24th that it has signed a business agreement with the Korea Institute for Advancement of Technology (KIAT) for 'performance-sharing support cooperation to spread win-win cooperation-type technological innovation.'

Min Byung-joo, President of the Korea Institute for Advancement of Technology (left), and Kim Young-hwan, Secretary General of the Foundation for Cooperation between Large, Small Enterprises and Agriculture and Fisheries, are signing a "Cooperation Agreement to Support Performance Sharing for the Spread of Win-Win Cooperation Type Technological Innovation" and taking a commemorative photo.
[Photo by Cooperation Foundation]

This agreement was prepared to strengthen the linkage between the Foundation's 'performance-sharing system' and KIAT's 'win-win innovation leap project for medium-sized and small enterprises' and to establish a cooperative system for the continuous spread of win-win cooperation-type technological innovation. The performance-sharing system is a contract model in which the commissioning company supports and shares performance to achieve jointly agreed goals between the entrusted and commissioning companies, and the win-win innovation leap project for medium-sized and small enterprises is a project that forms a consortium between medium-sized and small enterprises and supports technology development.

Medium-sized and small enterprises selected for KIAT's innovation leap project can share the performance generated through participation in the performance-sharing system by mutual agreement between companies. For the technology development results generated from KIAT projects, medium-sized and small enterprises can distribute the performance in the form of cash or increased quantity/sales, among other methods.

Min Byung-joo, President of KIAT, said, "We will comprehensively support technology development based on win-win cooperation between companies and fair performance sharing," adding, "We will spare no effort to support companies conducting joint technology development projects to achieve excellent results."

According to the agreement, both organizations will strive to mutually cooperate to activate the performance-sharing system for win-win cooperation research and development (R&D) between medium-sized and small enterprises and to support systems that promote win-win cooperation among participating companies. They will also cooperate in information exchange and jointly hosting seminars to spread win-win cooperation-type technological innovation.

Kim Young-hwan, Secretary General of the Foundation, said, "We hope that win-win cooperation will not be limited to relationships between some large corporations and their partners but will expand to the overall economic hierarchy, including medium-sized and small enterprises."

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