[Asia Economy Reporter Kim Bo-kyung] Korea South-East Power announced on the 16th that it will promote the 'Gyeongnam Region Small and Medium Enterprise Smart Factory Construction Support Project' to revitalize the local economy, which has been stagnated due to the novel coronavirus disease (COVID-19).
This project is being carried out in collaboration with South-East Power, Gyeongsangnam-do, and Gyeongnam Technopark. Through the construction of smart factories responding to the Fourth Industrial Revolution era, it is expected to meet customer demands such as customized production and shortened delivery schedules.
Additionally, it is anticipated to secure the competitiveness of small and medium enterprises in response to changes in the business environment, such as reduced working hours and minimum wage increases. The project plans to increase the success rate of smart factory adoption by combining expert consulting and financial support.
The support targets 20 companies located in the Gyeongnam region participating in the '2020 Smart Factory Distribution and Expansion Project' led by the Ministry of SMEs and Startups.
Out of the total project cost of 2 billion KRW (100 million KRW per company), 1.6 billion KRW, which is 80%, will be jointly supported by the government, Gyeongsangnam-do, and South-East Power to alleviate the burden on small and medium enterprises.
A South-East Power official stated, "We will continuously strive to strengthen the competitiveness of small and medium enterprises together with related organizations to actively respond to the government's co-prosperity policy."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
