Traditional Culture Technology Innovation Services Supported Through Vouchers

Ministry of Culture and Gongjinwon Introduce 'Traditional Culture Innovation Voucher'
Selected Supply and Demand Companies to Receive Over 700 Million Won in Support

The Ministry of Culture, Sports and Tourism and the Korea Craft & Design Foundation announced on the 8th that they will introduce the 'Traditional Culture Innovation Voucher' for the first time this year. This project supports small and medium-sized enterprises and small business owners related to the traditional culture industry by providing services necessary for technological innovation and business advancement in the form of vouchers. Through a public contest, thirty-seven demand companies will be selected and vouchers worth 740 million KRW will be provided.

The Foundation will accept applications from supply companies providing innovation voucher services such as technology transfer, management consulting, design, and promotion/marketing until the 28th of this month, and from demand companies eligible to receive innovation vouchers until the 21st of next month. The former targets companies or institutions that can stably provide innovation voucher services for traditional culture companies. The latter allows applications from small and medium-sized enterprises as defined by the 'Framework Act on Small and Medium Enterprises' or small business owners as defined by the 'Act on the Protection of Small Business Owners.' Selected companies will receive customized services worth up to 20 million KRW.

A Ministry of Culture, Sports and Tourism official explained, "Among the six programs in two fields (technological innovation and business advancement), applicants can choose the desired service program and supply company," adding, "The programs include technological innovation and intellectual property management, strengthening non-face-to-face capabilities, small-scale prototype production, management capability enhancement and market trend analysis, promotion/marketing, and design capability enhancement." The official also added, "Exchange events and technological innovation consultations will also be supported." For more details on the application process, please refer to the Foundation's website.