For Small and Medium Construction Companies with Potential and Technical Skills
[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport (MOLIT) has selected 100 "Construction Innovation Leading Companies" with growth potential and technological capabilities to support their technology development and domestic and overseas market expansion.
MOLIT announced on the 25th that it will accept applications from small and medium-sized enterprises (SMEs) in the construction industry for three weeks from the 26th until the 15th of next month, and after evaluation by the "Construction Innovation Leading Companies Selection Committee," it will select 100 companies by the end of next month.
The Construction Innovation Leading Companies Selection Committee has been formed to select the top 100 innovative small and medium construction companies, with participation from industry, public ordering institutions, and research organizations.
First, the top 100 companies will be selected from all SMEs in the construction sector regardless of whether they are general or specialized construction companies. They will be classified into ▲Technology Development (30%) ▲Market Entry (60%) ▲Technology Development & Market Entry (10%), and companies with competitiveness in each field will be selected.
The selection targets are companies with growth potential, showing continuous increases in sales performance and employment ratio of technical personnel, and having future investment plans.
Companies with no performance for more than two years, those subject to administrative sanctions due to fatal accidents, or those classified as insolvent companies such as bankruptcy, rehabilitation, or workout cases will be excluded from selection.
By category, the "Domestic Market Entry" field evaluates general construction companies based on direct construction capability, and specialized construction companies based on construction management capability. The "Overseas Market Entry" field evaluates the feasibility and concreteness of overseas expansion plans, while "Technology Development" focuses on the feasibility of technology implementation.
MOLIT plans to provide customized support considering the characteristics and needs of companies selected as the top 100 Construction Innovation Leading Companies.
Common support items include easing guarantee burdens (10% reduction in fees) and expanding low-interest loans, which can improve business conditions in a short period.
Additionally, the "Domestic Market Entry" field will be supported through mutual cooperation evaluation bonus points (3 points), employment evaluation bonus points (0.5 points), and certification systems (KISCON corporate information disclosure).
The "Overseas Market Entry" field will receive support such as feasibility and business analysis, market development assistance, and consulting.
For "Technology Development," support will be provided through assistance for moving into the Smart Construction Support Center to provide a startup ecosystem platform, preferential selection for demand-based technology commercialization support projects to provide innovative technology demand sources, and more.
More detailed information can be found on the websites of the Korea Research Institute for Human Settlements, the Korea Construction Association, and the Korea Specialty Contractors Association.
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