"Promotion of Early Market Creation and Global Market Entry for Innovative Products of Small and Medium Enterprises"
Kim Yong-rae, Director of Industrial Innovation, Ministry of Trade, Industry and Energy. / Photo by Kang Jin-hyung aymsdream@
[Asia Economy Reporter Moon Chaeseok] The Ministry of Trade, Industry and Energy announced that it will hold a briefing session on excellent products for public demand agencies at COEX, Seoul, starting at 2 p.m. on the 16th.
The briefing session is an event introducing excellent products from small and medium-sized enterprises (SMEs) and mid-sized companies, including those from World Class 300, to public demand agencies. Twenty-six public institutions and local governments, along with seven SMEs and mid-sized companies, will attend.
The briefing session was organized to help innovative products from SMEs and mid-sized companies expand from the private sector to the public sector, thereby creating initial markets, promoting technological innovation, and fostering innovative growth.
In software fields such as Enterprise Resource Planning (ERP), Operating Systems (OS), and Databases (DB), companies with technological capability and quality often face difficulties due to lack of brand awareness, delivery records, and marketing capabilities.
The Ministry of Trade, Industry and Energy expects this event to serve as an opportunity to expand the entry of such SME and mid-sized company products into the public sector.
Using water treatment filters as a successful case of the materials, parts, and equipment development policy, the ministry anticipates that innovation such as advanced water purification will spread to the public sector through the briefing session.
Product explanations and consultations will be conducted for participating companies targeting public institutions with purchasing demand in each field.
Public institutions with experience in adopting products in the relevant fields will participate to share their utilization experiences.
There will also be a Q&A session on know-how to overcome difficulties that may arise during the adoption process.
A representative from a mid-sized company said, "The briefing session will be a great opportunity to explain our products in detail to various public institutions," adding, "We plan to actively work to expand our entry into the public market through this event."
Kim Yongrae, Director of Industrial Innovation at the Ministry of Trade, Industry and Energy, said, "It is important for innovative products from SMEs and mid-sized companies to grow the market through public demand and increase their entry into the global market," and urged, "I hope the public sector will take the lead in adopting innovative products so that it can provide high-quality public services and drive private sector innovative growth."
He added, "Going forward, the government will actively discover innovative products in various fields and provide diverse opportunities such as the Industrial Technology R&D Expo and the New Technology Commercialization Promotion Competition," and "We will also work to expand communication between local governments, public institutions, and the private sector."
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