Government Supports Chemical Safety Management for SMEs... 59.1 Billion Won Investment Over 5 Years

[Sejong=Asia Economy Reporter Kwon Haeyoung] The government will invest a total of 59.1 billion KRW over five years to support safety management for small and medium-sized enterprises (SMEs) and mid-sized companies using chemical substances and materials.

The Ministry of Trade, Industry and Energy announced on the 18th that it will launch a public contest to select the lead institutions and target regions for the project titled "Establishment of Eco-friendly Management Infrastructure in the Manufacturing Sector."

The ministry plans to select and support three industrial complexes that are key to fostering regionally specialized industries based on chemicals, such as petrochemicals, bio, and secondary batteries. It will support the evaluation of the hazards of chemical substances and materials, safety management monitoring for each workplace, facility improvements, and consulting. This year, 4.4 billion KRW of national funds will be invested in this project.

First, to develop eco-friendly materials and verify and reduce substance hazards, 54 types of equipment will be installed at three "Open Lab" centers tailored to regional strategic industries, supporting a total of 500 performance and test evaluations over five years. Additionally, for small-scale workplaces that find it difficult to invest in safety, a "Safety Management Integrated Support Program" consisting of three types of services?safety management monitoring system dissemination, improvement of aging and high-risk facilities, and consulting?will be operated. Through this, the ministry expects the hazard evaluation period to be reduced by 30% and costs to be cut by 75%.

Hwang Suseong, Director of Industrial Policy at the Ministry of Trade, Industry and Energy, said, "Active government support is necessary to respond to domestic and international environmental regulations and workplace safety," adding, "Through this new and differentiated project based on corporate demand, we will continue efforts to create an industrial environment where manufacturing companies can focus on research and development, production, and export."

For more details, please visit the Ministry of Trade, Industry and Energy website or the Korea Institute for Advancement of Technology website.