Korail Strengthens 'Win-Win Growth' with Railway SMEs through Technology Market Mediation

Korea Railroad Corporation (KORAIL) announced on the 4th that it plans to strengthen co-growth with small and medium-sized enterprises (SMEs) in the railway sector by leveraging the activation of the SME Technology Market.

The Technology Market is a type of online platform where public institutions directly verify the excellent technologies and products of SMEs to ensure product reliability, support their entry into public markets, and help secure sales channels.

Korail and the Korea Rail Network Authority held the "1st Integrated Technical Review Meeting of Railway Organizations" at the Daejeon headquarters on the 26th of last month to discuss measures to strengthen the cooperation system among railway organizations, including simplifying the certification review process for the SME Technology Market. Photo by Korail

KORAIL has supported technology development by promoting joint research with Technology Market certified companies and providing testbeds for on-site verification.

In particular, last year, the purchase scale of Technology Market certified products was increased to 59.4 billion KRW (a 217% increase compared to the previous year), supporting the expansion of public sales channels for SMEs in the railway sector.

Additionally, KORAIL encouraged technology development by prioritizing the purchase of 19 certified products such as railway technology commercialization, and helped export sleepers designed and measured to suit overseas markets to Vietnam.

Furthermore, KORAIL provided benefits such as supporting research and development funds or business funds to certified companies with technological capabilities and offering interest reductions on loans.

Park Chan-jo, Head of KORAIL’s Win-Win Contract Division, said, “KORAIL will actively support the technology development of small and medium-sized partners this year as well to open the path for co-growth. Through this, we will establish new growth engines for the Korean railway industry.”

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