[Asia Economy Reporter Kim Heung-soon] KOTRA announced on the 5th that it will hold the 'Korea-Japan Smart Factory Partnering' event on the 6th together with the Korea Industrial Intelligence Association to support Korean smart factory companies' entry into the Japanese market and partnership building.
The event will feature 12 Korean smart factory specialized companies capable of establishing smart factories and office automation solutions in Japanese manufacturing sites. They will conduct product presentations through online videos and then have individual consultations with Japanese companies that show interest.
Currently, there are 663,000 manufacturing companies in Japan. By 2025, more than half of their total facilities will be over 50 years old, indicating significant aging. To address this issue, the Japanese government announced the 'Smart Factory Roadmap' in 2017 and established a business restructuring subsidy fund last year to actively support digital transformation (DX) of small and medium-sized manufacturing enterprises.
The business restructuring subsidy provides grants ranging from 10 million to 1 billion yen to small and medium-sized enterprises, mid-sized companies, and sole proprietors who submit business restructuring plans such as business or industry conversion and new field development for management innovation and value-added creation.
KOTRA stated, "We will continue to discover consultation demands from Japanese buyers who are highly interested in Korean smart factory products and provide ongoing support for our companies."
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