Korea Federation of SMEs Supports Activation of Cooperative Joint Projects

Up to 100 Million KRW Support per Cooperative
Collaboration Models Including DX and Environmental Regulation Response Eligible

The Korea Federation of Small and Medium Business announced on the 16th that it is recruiting cooperatives to participate in the 'Innovative Joint Business Support Project' to promote collaboration among small and medium enterprises and revitalize joint projects of cooperatives.

Now in its third year, the Innovative Joint Business Support Project provides direct project expenses for joint projects aimed at building collaboration models such as digital transformation, environmental regulation response, joint marketing, and logistics innovation for industry-specific small and medium enterprise cooperatives. This year, a total of 1.3 billion KRW will be supported, an increase of 300 million KRW from last year.

The support target is small and medium enterprise cooperatives established under the Small and Medium Enterprise Cooperatives Act, with 80% of the project cost per cooperative supported, up to a maximum of 100 million KRW.

Cooperatives wishing to participate can submit application documents through the Cooperative Portal by the 4th of next month. Afterwards, support targets will be selected through eligibility and project plan evaluations.

Hyun Jun, Head of the Collaboration Business Office at the Korea Federation of Small and Medium Business, said, "We expect that various new collaboration models will be discovered, providing an opportunity for cooperatives to leap forward as a growth platform for small and medium enterprises."