D.N.A Support for Overseas Expansion of Large, Medium, and Small Enterprises... 1 Billion Won Each for Convergence Services

[Asia Economy Reporter Seulgina Jo] The Ministry of Science and ICT and the National IT Industry Promotion Agency announced on the 26th the 'D.N.A. Large-Medium-Small Partnership Joint Overseas Expansion' project to support the overseas expansion of innovative services developed through the convergence of data, networks, artificial intelligence (AI), and industries.

They will prioritize support for pilot applications and localization of D.N.A. convergence services that can enter overseas markets in a short period, and plan to gradually assist until the service expands. This year, the project will be conducted in the form of consortia consisting of large, medium-sized, and small enterprises. Two tasks will be solicited and evaluated through an open competition.

For the two finally selected tasks (two consortia), support funds of up to approximately 1 billion KRW per task will be provided.

Detailed information regarding the project announcement can be found on the National IT Industry Promotion Agency website (www.nipa.kr). The project briefing session will be held online on the 9th to prevent the spread of COVID-19.

The Ministry of Science and ICT plans to support the overseas expansion of domestic digital companies by annually soliciting two to three or more digital innovation fields through the D.N.A. Large-Medium-Small Partnership.

Lee Seungwon, Director of Information and Communication Industry Policy at the Ministry of Science and ICT, stated, “Innovative digital convergence services are core industries in the era of digital transformation, and proactive and preemptive entry into the global market determines success. Through government support and consortium formation, industrial collaboration systems will be strengthened, and customized joint projects by overseas regions will be discovered, contributing to export growth.”