"Innovative Companies Supported"... Basil Company, Ministry of SMEs and Startups, and Industrial Bank of Korea Sign Business Agreement

Excellent Company Cases at the SME R&D Performance Expansion Win-Win Week

A practical project is being launched in which small and medium-sized enterprises (SMEs), government agencies, and banks join hands to spread the R&D achievements of SMEs.

Vazil Company Co., Ltd. was recognized as a notable example of technological innovation by SMEs at the ‘2024 SME R&D Achievement Expansion Win-Win Week’ hosted by the Ministry of SMEs and Startups and Industrial Bank of Korea.

On the first day of the event, the 25th, Vazil Company signed a tripartite business agreement with the Ministry of SMEs and Startups and Industrial Bank of Korea, embarking on a challenge to innovate technology in the shipbuilding industry.

Vazil Company is promoting a project that automates the welding process in the shipbuilding industry by utilizing artificial intelligence (AI) and industrial robot technology, thereby drastically improving productivity.

Going beyond simple automation, the project aims to maximize work precision and efficiency and targets process innovation across the entire shipbuilding industry.

With the momentum gained through this tripartite agreement, Vazil Company is expected to further solidify its position in domestic and international markets based on these innovative technologies.

Representatives from Basil Company, the Ministry of SMEs and Startups, and Industrial Bank of Korea signed a business agreement on the 25th at the 2024 SME R&D Performance Expansion Win-Win Week.

The Achievement Expansion Win-Win Week is an event designed to discover and spread excellent R&D achievements of SMEs. This year, over 450 stakeholders, including the Ministry of SMEs and Startups, Korea Technology and Information Promotion Agency for SMEs, Industrial Bank of Korea, and Hana Bank, participated.

The event featured various programs highlighting the technological achievements of SMEs and discussing financial and policy support.

Vazil Company stated, “Although we did not exhibit products at the event, we positioned ourselves as the central company in the agreement signed between the Ministry of SMEs and Startups and Industrial Bank of Korea, emerging as a leader in innovative technology in the shipbuilding sector.”

Hwang Hee-kyung, CEO of Vazil Company, introduced, “We succeeded in improving both productivity and quality by integrating AI and robot technology in the welding field, a core process of the shipbuilding industry.”

CEO Hwang emphasized, “We will continue to pursue technological innovation that can change the paradigm of the shipbuilding industry not only in the domestic market but also in the global market.”

According to the agreement, the Ministry of SMEs and Startups will support Vazil Company’s technology development, and Industrial Bank of Korea will provide the necessary financial resources. Vazil Company plans to accelerate growth based on its technological capabilities and further strengthen its status in the shipbuilding industry.

Vazil Company plans to use this agreement as an opportunity to lead the future of the shipbuilding industry based on AI and robot technology and enhance its global competitiveness.