Gyeonggawon to Provide Up to 50 Million KRW Support for Root Companies... Applications Accepted Until July 12

Poster for Gyeonggi-do Economic Science Promotion Agency's 'Root Company Competitiveness Enhancement Support Project'

The Gyeonggi-do Economic Science Promotion Agency is set to strengthen the competitiveness of the root industry within the province.

On the 3rd, the agency announced that it will launch a ‘Competitiveness Enhancement Support Project’ targeting root companies with main offices or factories in five areas: Siheung, Anseong, Yongin, Uiwang, and Pocheon, and is recruiting participating companies until the 12th of this month.

Root companies are those that produce intermediate process products focusing on ‘fundamental process technologies’ used across manufacturing industries such as casting, mold, plastic working, welding, surface treatment, and heat treatment, as well as ‘next-generation process technologies’ essential for future growth and development of manufacturing, including robotics and sensors.

This project is newly launched this year to improve the technological capabilities and productivity of root companies in the province through customized support such as manufacturing process innovation for digital transformation (DX).

The support covers nine sub-projects in three areas: ▲Digital Process Innovation (digital manufacturing innovation, improvement of outdated production facilities, improvement of hazardous chemical handling facilities) ▲Technology and Quality (prototype production, testing and analysis, certification acquisition) ▲Corporate Difficulties (consulting for corporate difficulties, participation in domestic and international exhibitions, marketing).

The agency will provide up to 50 million KRW to selected companies.

Kang Seong-cheon, head of the agency, stated, "As the manufacturing industry environment changes recently with AI and eco-friendliness, the importance of the root industry is increasing," adding, "We will strive to strengthen the competitiveness of root industry companies through customized support so that root companies in the province can develop into high value-added advanced industries."