SK Transfers 271 Technologies to SMEs for Free... 100 Billion Won Technology Commercialization Guarantee Agreement

Ministry of Trade, Industry and Energy Hosts '2020 Korea Technology Commercialization Expo' Online and Offline

[Asia Economy Reporter Moon Chaeseok] SK will transfer 271 technologies to small and medium-sized enterprises (SMEs) free of charge and sign a technology commercialization guarantee agreement worth 100 billion KRW.

The Ministry of Trade, Industry and Energy announced that on the 25th at 10 a.m., it will hold the "2020 Korea Technology Commercialization Expo" at the COEX ASEM Ballroom in Samseong-dong, Seoul.

SK, the Korea Institute for Advancement of Technology (KIAT), the Korea Credit Guarantee Fund, and representatives of technology commercialization awardees will attend.

This event gathers the government and technology commercialization stakeholders including industry, academia, and research institutes to encourage awardees and share and spread achievements. The event has been held since 2013.

This year's theme is "Spreading New Wings for a Leap Forward through Digital Transformation," exploring the direction and vision of technology commercialization in the digital era.

Considering strengthened COVID-19 prevention measures, on-site attendance will be minimized, and online participants can join via video conferencing systems and YouTube streaming.

Starting with this year's theme video, the event will include the Ministry of Trade, Industry and Energy-SK-KIAT technology sharing agreement, KIAT-Korea Credit Guarantee Fund technology finance agreement, technology commercialization award ceremony, and a business model (BM) competition.

Through the technology sharing agreement, 271 technologies owned by five SK group companies (SK Hynix, SK Telecom, SK Innovation, SK Planet, SK Siltron) will be shared with small and medium-sized enterprises and mid-sized companies. The announcement will be made next month.

From next year, through the technology finance agreement, new technology commercialization guarantees worth up to 100 billion KRW will be supplied.

At the award ceremony, 35 ministerial awards will be given in six categories including technology transfer, finance, and sharing. In the BM competition, 10 teams from technology management graduate schools will compete with business models utilizing digital technologies.

Online events include a 20th anniversary talk concert for technology commercialization, an industrial digital transformation (DX) forum, a technology transfer consultation session, and an explanation session on the innovative product designation system. An exhibition hall for outstanding technology commercialization achievements has also opened.

Park Jin-kyu, Vice Minister of the Ministry of Trade, Industry and Energy, said in his congratulatory speech, "Since the enactment of related laws in 2000, technology commercialization policies have achieved remarkable results such as the scale of technology transfer, commercialization success rates, and the increase of supporting institutions."

Vice Minister Park added, "Without complacency, we will innovate the technology commercialization ecosystem together with companies, universities, and research institutes in the digital era accelerated by the Fourth Industrial Revolution and the COVID-19 pandemic. We will do our best to help Korea leap forward as a future-leading nation."