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[Asia Economy Reporter Kim Cheol-hyun] The Korea Federation of Small and Medium Business (Chairman Kim Ki-moon) announced on the 7th at the Korea Advanced Institute of Science and Technology (KAIST) in Daejeon that it had issued a 'Joint Declaration of Solidarity and Cooperation' to resolve technical difficulties faced by small and medium enterprises (SMEs) in materials, parts, and equipment, together with the University Materials, Parts, and Equipment Technology Strategy Advisory Group and the Korea Institute for Advancement of Technology. Present at the event were Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business; Sung Yun-mo, Minister of Trade, Industry and Energy; Shin Sung-chul, President of KAIST; and Jung Yang-ho, President of the Korea Institute for Advancement of Technology, while presidents of 11 universities participated online.

Prior to the joint declaration, an inauguration ceremony was held for the 'University Materials, Parts, and Equipment Technology Strategy Advisory Group' (hereafter the Advisory Group), which includes 12 major universities aiming to provide technical support to materials, parts, and equipment companies. The Advisory Group consists of 12 major universities specializing in materials, parts, and equipment by technology field, and will promote joint technology development with companies focusing on foundational technologies possessed by the universities to achieve core technology independence. Additionally, excellent personnel from the Advisory Group will visit company sites directly to provide technical advice and analysis support to enhance the technological capabilities of materials, parts, and equipment companies, with a total government budget of 81.3 billion KRW allocated over three years.

Following the inauguration ceremony, an online joint declaration ceremony of solidarity and cooperation was held with the participation of the Korea Federation of Small and Medium Business, the 12 universities selected for the University Materials, Parts, and Equipment Advisory Group, and the Korea Institute for Advancement of Technology. Through this, a technology support platform to assist materials, parts, and equipment companies was established between the Korea Federation of Small and Medium Business and major universities, and SMEs facing technical difficulties in materials, parts, and equipment can now submit their technical issues through the Korea Federation of Small and Medium Business regardless of region and receive support from the university advisory group.

Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, stated, "The solidarity and cooperation through the launch of the Advisory Group will provide an opportunity for SMEs, which have relied on independent technology development, to engage in industry-academia collaboration beyond just resolving technical difficulties." He added, "We will actively identify and address the difficulties faced by SMEs experiencing technical challenges on the ground to ensure they receive appropriate support."