The Gyeonggi-do Economic Science Promotion Agency is recruiting participating companies for the ‘Small and Medium Enterprise Product Design Development Support Project’ to strengthen the design competitiveness of small and medium-sized enterprises (SMEs) in the province.
On the 24th, the agency announced that it will jointly invest a total of 1.7 billion KRW with 24 cities and counties in the province to support the entire process from product design development to commercialization for 140 SMEs that have technological capabilities but lack design expertise.
First, up to 14 million KRW will be provided to 136 companies for product design (such as electrical/electronic and household goods) development. Additionally, through the design commercialization support project within three years, four companies that have completed product design development will be selected and supported with mold production costs up to 16 million KRW.
Kim Hyun-gon, head of the agency, said, "Design is a key factor that enhances product competitiveness and consumer preference," adding, "We hope that companies lacking the capacity to invest in design will secure professional design capabilities through this project and translate them into tangible business results."
Last year, the agency supported 164 companies, achieving results such as an increase in sales of 104.7 billion KRW, registration of 204 industrial property rights, and creation of 248 new jobs.
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