KATS-Startup and Venture Companies Sign MOU to Support Product Safety
Reduction of Testing Fees and Provision of Customized Product Safety Information
[Sejong=Asia Economy Reporter Ju Sang-don] To prevent startups and venture companies, who lack information on safety certification standards, from facing difficulties during new product development, the Korea Agency for Technology and Standards (KATS) and testing and certification organizations have agreed to proactively support product safety tasks in advance.
On the 29th, KATS will sign a "Startup and Venture Company Product Safety Support Business Agreement (MOU)" at the EL Tower in Seoul with the Korea Venture Business Association, Korea Women Venture Business Association, Korea Startup Forum, Korea Product Safety Association, and seven domestic product safety certification organizations.
According to the business agreement, KATS will establish direct communication channels between the seven certification organizations and startups and venture companies to prevent trial and error related to product safety for emerging companies. Certification organizations will designate dedicated personnel specialized by product group to provide 1:1 customized support to resolve companies' difficulties.
The burden of testing fees will also be reduced. When startups and venture companies request testing for innovative new product development and quality control, testing costs will be reduced by 30-40% compared to statutory fees. However, tests conducted for the purpose of obtaining certification are excluded from the reduction. Additionally, product safety-related information will be continuously provided to startups and venture companies by holding quarterly explanatory sessions on product certification systems such as Safety Certification (KC) and New Excellent Product Certification (NEP).
Lee Sang-hoon, Director of KATS, said, "Through this business agreement, we expect that emerging companies like startups and venture companies will easily resolve difficulties related to safety certification and shorten the time and cost from technology development to market entry." He added, "While protecting the safety of the public, we will prepare various product safety support policies so that Korean companies can freely showcase innovative technologies in the market."
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