Gyeonggi-do Provides Up to 300 Million KRW per Company for R&D Expenses of SMEs

Gyeonggi Province will support up to 300 million KRW in research and development (R&D) expenses for small and medium-sized enterprises (SMEs) within the province this year.

This project is divided into two types: 'R&D First Step Corporate Research Institute Support,' which helps early-stage companies, and 'Gyeonggi Province Technology Development,' which supports field-oriented technology development.

The R&D First Step Corporate Research Institute Support targets companies that have established or relocated corporate-affiliated research institutes or dedicated R&D departments within the last three years.

A total of 10 projects will be selected, with up to 150 million KRW per year provided for research and development funding for up to two years.

Gyeonggi Province Technology Development will select 35 projects centered on corporate demand, providing up to 100 million to 150 million KRW per project for one year.

Companies wishing to participate can apply online through the 'Gyeonggi Province R&D Management System (pms.gbsa.or.kr)' by the 11th of next month.

Lee Seong-ho, Director of the Future Growth Industry Bureau of Gyeonggi Province, said, "In times of great economic uncertainty like now, technological competitiveness is the key to corporate survival," adding, "We will continue to prepare various support policies so that companies in the province can secure competitiveness based on technological capabilities."