TIPA Holds Customized 1:1 R&D Project Funding Consultation Meetings by Region

Logo of the Korea Technology and Information Promotion Agency for SMEs.
[Photo by Korea Technology and Information Promotion Agency for SMEs]

[Asia Economy Reporter Lee Junhyung] The Korea Technology and Information Promotion Agency for SMEs (TIPA) announced on the 21st that it will hold the '2021 First Half Regional 1:1 R&D Project Expense Customized Consultation Meeting' for small and medium-sized enterprises (SMEs) conducting research and development (R&D) projects. The event will take place in Seoul from the 22nd to the 23rd, and in Gyeonggi Province from the 11th to the 22nd of next month.

This consultation meeting is the second one following last year's sessions held in five regions including Busan. At the meeting, accountants from accounting firms designated by TIPA will provide one-on-one customized consultations. According to TIPA, due to high demand from companies and high satisfaction with the consultation meetings, they decided to hold the sessions again targeting companies in Seoul and Gyeonggi regions, where many R&D-performing companies are located.

Through this consultation meeting, TIPA plans to enhance SMEs' overall understanding of R&D project expense execution to prevent improper use of project funds in advance. It is also expected to minimize cases where expenses are not recognized as eligible for support after settlement and contribute to preventing the misuse of national R&D funds.

Companies conducting R&D can apply to participate in the consultation meeting through accounting firms designated by TIPA. TIPA will conduct the consultation meetings in compliance with quarantine guidelines, such as minimizing crowding by distributing consultation times.

Lee Jaehong, President of TIPA, said, "Through this consultation meeting, we aim to alleviate companies' concerns about R&D project expense execution and help them focus more on technology development," adding, "We hope this will assist companies in successfully carrying out their R&D projects."