InnoBiz Association Holds Policy Agreement Ceremony with Democratic Party of Korea

Policy Cooperation Including Restoration of R&D Budget

On the morning of May 27, the InnoBiz Association announced that it held a policy agreement ceremony on livelihood policies with the Professional Headquarters of the Democratic Party of Korea Central Election Committee at the 7th Conference Room of the National Assembly Members' Office Building in Yeouido.

The ceremony was attended by Assemblyman Song Jaebong from the Professional Headquarters of the Democratic Party of Korea Central Election Committee, InnoBiz Association President Jung Gwangcheon, and 15 InnoBiz entrepreneurs.

At the policy agreement ceremony conducted by the InnoBiz Association and the Democratic Party of Korea Central Election Committee's Professional Headquarters, Assemblyman Song Jaebong is delivering a greeting. InnoBiz Association

At the event, the association emphasized the need for focused support for InnoBiz, which are global innovative companies centered on advanced manufacturing, due to the intensifying restructuring of global supply chains and the growing competition for technological supremacy. The association also called for the establishment of institutional foundations to support the growth of companies that play a central role in the industrial ecosystem through technological innovation.

The main points of the agreement include: ▲ restoring and diversifying support methods for the research and development (R&D) budget for small and medium-sized enterprises, ▲ promoting global technological cooperation such as global R&D and technology trade, and ▲ cooperating on the introduction of a system to expand private sector-led R&D investment and financing.

President Jung Gwangcheon stated, "I hope that today's event will serve as the starting point for transforming the innovation ecosystem, enabling InnoBiz companies to become the main agents of self-sustaining growth in line with the current trends of digital transformation, green transition, and technological self-reliance."