Junggyeonryeon-Sanggi-pyeong, Supporting Technology Innovation and Competitiveness Enhancement for 'Sobu-jang Junggyeon Companies'

On the 24th, Kang Ho-gap, Chairman of the Korea Federation of Mid-sized Enterprises (right), Sung Yun-mo, Minister of Trade, Industry and Energy (center), and Jung Yang-ho, President of the Korea Institute for Advancement of Technology (left) signed a business agreement.
Photo by Korea Federation of Mid-sized Enterprises

[Asia Economy Reporter Junhyung Lee] The Korea Federation of SMEs will collaborate with the Korea Institute for Advancement of Technology to support the innovative growth of mid-sized companies in materials, parts, and equipment.

At the '2nd Mid-sized Enterprise Policy Committee' held on the 24th, the Federation signed a memorandum of understanding (MOU) with KIAT to enhance technological innovation and competitiveness of mid-sized companies in the materials, parts, and equipment sector. KIAT is the dedicated support organization for R&D in materials, parts, and equipment.

Through this agreement, the two organizations plan to cooperate in line with the government's announced 'Materials, Parts, and Equipment 2.0 Strategy' and the 'Innovative Small and Mid-sized Enterprise Growth Strategy' implementation stages. They will collaborate on building growth ladders, identifying and resolving difficulties, global technology cooperation, and supporting digital transformation.

The Federation plans to establish and operate a Materials, Parts, and Equipment Hub Center in accordance with the Ministry of Trade, Industry and Energy's 'Mid-sized Enterprise Growth Promotion Implementation Plan.' The Hub Center will serve as a base to strengthen the core capabilities of key mid-sized companies in materials, parts, and equipment.

In cooperation with KIAT and related organizations, a comprehensive support system will be established, including R&D support, institutional environment improvement, and growth strategy consulting, to actively support key mid-sized companies in materials, parts, and equipment.

Kang Hogap, chairman of the Federation, emphasized, "To enhance competitiveness in materials, parts, and equipment, it is essential to start by solidifying the innovation of key players who have already secured core related technologies."

He added, "We will actively develop and implement effective support programs tailored to field needs centered on the Materials, Parts, and Equipment Hub Center to lead the sustainable growth of mid-sized companies in this sector."