116 Billion KRW Support Planned for Innovation Vouchers, Export Vouchers, Policy Funds, and Smart Factories
Gyeongbuk Technopark secured 17 billion KRW in national funding for the 2025 corporate support budget under the Ministry of SMEs and Startups’ (MSS) ‘Regional Specialized Project Legend 50+ 1.0’ initiative, specifically for the ‘Gyeongbuk Future Car Green Transition Materials and Components Development Project’ on the 15th.
This project, which will be carried out over the next three years (2024?2026), selected 50 participating companies in March this year and will provide approximately 11.6 billion KRW in support through MSS’s innovation vouchers, export vouchers, policy funds, smart factories, and other regional core business development programs.
During this year, 37 companies, accounting for 74% of all participating firms, received benefits by being selected for at least one support program. The project focuses on intensively fostering the regional automotive parts industry by supporting the application of recycled materials, securing carbon emission reduction technologies, and applying eco-friendly parts for future cars to respond to international carbon neutrality and environmental regulations.
The main goal of this project is to build on the excellent results achieved in 2024 and secure an increased support budget of 17.2 billion KRW in 2025 compared to the previous year.
In particular, in addition to existing support, it is expected that participating companies will be provided with diverse and customized policy measures such as support for new personnel recruitment and loans through the Korea Technology Finance Corporation.
Gyeongbuk Province is recruiting an additional five companies to participate in the project to ensure the willingness of local future car automotive parts companies to engage and to successfully advance the project.
Companies wishing to participate in the ‘Regional Specialized Project Legend 50+ 1.0’ can refer to the additional recruitment announcement by Gyeongbuk TP.
Applications for participation will be accepted until the 27th, and an explanatory session related to this will be held on the 20th at the Gyeongju Hilton Hotel.
Ha In-seong, President of Gyeongbuk TP, stated, “With expanded financial support in 2025, we expect the future car parts industry to grow into a core industry of Gyeongbuk Province, laying the foundation for a robust regional economy.”
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