Korea Federation of SMEs and POSCO Recruit Companies for Large-SME Win-Win Smart Factory Project

Support for Building 'Advanced' Level Smart Factories

The Korea Federation of SMEs announced on May 8 that it is accepting applications from companies wishing to participate in the 'Large-SME Win-Win (POSCO) Smart Factory Construction Support Project.'

Since 2019, the Korea Federation of SMEs, together with the Ministry of SMEs and Startups and POSCO, has supported the construction of smart factories for a total of around 460 companies over six years, laying the foundation for manufacturing innovation among small and medium-sized enterprises. This year, in line with the government's policy direction for qualitative advancement in digital manufacturing innovation, the project will support the construction of smart factories at the 'advanced' level.

Applications will be accepted until May 23, and companies with no existing business relationship with POSCO are also eligible to apply. Participating companies can receive support of up to 240 million won per company (equivalent to 60% of the total project cost) for projects with a total cost of up to 400 million won.

Participating companies will not only build smart factories but also receive technology know-how from POSCO through the POSCO Mutual Growth Support Group. The POSCO Mutual Growth Support Group is a specialized organization supporting SMEs, composed of experts with an average of more than 25 years of experience and expertise. They provide on-site diagnosis of vulnerable areas and close consulting support directly at SME sites.

In addition, from the early stages of the project, companies will receive on-site, hands-on construction guidance from an in-house task force composed of experts in various fields from the POSCO Group. Post-project consulting will also be provided for areas that are difficult for SMEs to resolve independently, such as environment, energy, and facility diagnostics.

Kim Ki-moon, Chairman of the Korea Federation of SMEs, stated, "At a time when the management environment for SMEs is increasingly uncertain, win-win cooperation between large corporations and SMEs is more vital than ever. It is especially important to transfer the manufacturing innovation experience and know-how that large corporations have accumulated through numerous trials and errors to SMEs." He added, "Together with the government and large corporations, we will actively support SMEs in building the capacity to respond to the rapidly changing industrial environment and to achieve sustainable growth."

Detailed information about the project and how to participate can be found on the official website of the Korea Federation of SMEs. For related inquiries, please contact the Smart Industry Division of the Korea Federation of SMEs.