Sandankong Expands Support for Performance Sharing and Cooperative Profit Sharing Systems

Contribution of 100 Million KRW to Win-Win Cooperation Fund for Large, Medium, and Small Enterprises and 5.8 Billion KRW Rent Reduction through Good Landlord Campaign

Kim Jeong-hwan, President of Korea Industrial Complex Corporation

[Asia Economy Reporter Kim Cheol-hyun] The Korea Industrial Complex Corporation (Chairman Kim Jeong-hwan) announced on the 19th that it will expand support for the Performance Sharing System and Cooperation Profit Sharing System to support small and medium-sized enterprises (SMEs) in industrial complexes struggling due to COVID-19 and to practice mutual growth and win-win cooperation with partner companies.

The Performance Sharing System and Cooperation Profit Sharing System are models of mutual growth and win-win cooperation between large corporations/public institutions and SMEs. The Korea Industrial Complex Corporation piloted these systems last year and is expanding support this year by increasing the target recipients and budget.

The Korea Industrial Complex Corporation has contributed 100 million KRW from its own budget to the Large and Small Business Win-Win Cooperation Fund to promote industrial innovation movement win-win projects, technical data escrow contract support projects, and cash incentive support projects for the Performance Sharing System.

Additionally, having participated in the "Good Landlord Movement" last year, the Korea Industrial Complex Corporation continues to reduce rents this year to support SMEs and small business owners struggling due to COVID-19. Last year, the corporation implemented about 3.9 billion KRW in rent reductions by lowering rents on owned buildings and land by 30%, and it has reduced about 1.9 billion KRW in rent through the first half of this year.

Kim Jeong-hwan, Chairman of the Korea Industrial Complex Corporation, stated, "The role of the corporation, which is at the forefront of the industrial field, is to help SMEs and grow together with them," adding, "We will continue to discover support projects for SMEs struggling due to COVID-19 and take the lead in mutual growth."