Hanwha Systems Selected as a 'Caring Company'... 40 Billion KRW SME R&D Investment and Fund Creation

[Asia Economy Reporter Su-yeon Woo] Hanwha Systems announced on the 12th that it has been selected for the 'Caring Companies 2.0' program led by the Ministry of SMEs and Startups (hereinafter referred to as the Ministry) and signed a memorandum of understanding (MOU) to discover and nurture small and medium enterprises (SMEs) possessing core technologies in new business fields.

'Caring Companies' refers to 'voluntary win-win cooperation companies' that actively share the strengths and accumulated know-how held by large corporations with SMEs. In particular, 'Caring Companies 2.0' aims to establish and support win-win agreements focused on ESG (Environmental, Social, and Governance) management activation between large and small-medium enterprises.

Through this agreement, Hanwha Systems and the Ministry plan to create a joint investment-type technology development fund of approximately 40 billion KRW (10 billion KRW) and a win-win growth fund (31 billion KRW) targeting SMEs and venture companies possessing future advanced technologies. Especially through this agreement, promising SMEs and venture companies with core technologies in new industry fields based on advanced technologies of the 4th Industrial Revolution era, such as Urban Air Mobility (UAM), low Earth orbit satellite communications, Artificial Intelligence (AI), and blockchain, will be discovered and nurtured.

Additionally, it is expected to discover and expand support for new SMEs such as external software small giants that have not had transactions with large corporations and startups related to the 4th Industrial Revolution, thereby spreading a culture of win-win cooperation.

Hanwha Systems will jointly establish a research and development (R&D) fund with the Ministry to support companies in the defense-related materials, parts, and equipment sector to develop challenging and innovative technologies. Furthermore, it aims to cooperate to expand business opportunities by providing joint participation opportunities in large government projects.

They also plan to foster a favorable win-win growth collaboration atmosphere by supporting education to improve the technological capabilities of SMEs and providing low-interest loans through the win-win growth fund.

Kim Yeon-cheol, CEO of Hanwha Systems, said, "Taking this agreement as an opportunity, we will devote ourselves to various win-win activities to discover capable SMEs in new industry fields that will revolutionize future life in this rapidly changing era of innovation and grow together." He added, "We will expand a cooperative ecosystem that aligns with IT new technologies, eco-friendliness, and government New Deal policies, establishing a model case that contributes to ESG management."