Kosmes Recruiting Supplier Companies for "Support Project for Establishing Industrial Safety Systems for SMEs"

Applications accepted until 6:00 p.m. on March 11

The Korea SMEs and Startups Agency announced on the 25th that it is recruiting supplier companies to participate in the "Support Project for Establishing Industrial Safety Systems for SMEs" in collaboration with KB Financial Group.

Exterior of the Small and Medium Venture Business Promotion Corporation in Jinju, Gyeongnam. Photo by Small and Medium Venture Business Promotion Corporation

The Support Project for Establishing Industrial Safety Systems for SMEs is being promoted based on the "Business Agreement to Support the Establishment of Industrial Safety Systems for SMEs" signed between the Korea SMEs and Startups Agency and KB Financial Group on December 19 last year. The project aims to identify small and medium-sized enterprises that possess outstanding technologies and systems in the field of industrial safety and foster them as supplier companies, then match them with client companies seeking to improve on-site safety, in order to prevent accidents such as fires, entrapment, collisions, and falls, and to spread safer working environments.

The Korea SMEs and Startups Agency will discover small and medium-sized enterprises that possess excellent technological capabilities and supply capacity in products and equipment in the industrial safety sector, while KB Financial Group will provide financial support so that the technologies and products of these supplier companies can be introduced into the worksites of client companies.

The two institutions plan to contribute to preventing serious industrial accidents and improving working conditions at industrial sites by cooperating with each other to ensure that the products and solutions of outstanding small and medium-sized enterprises are introduced and disseminated across various sites.

In particular, this project will be operated in the form of results-based financing (RBF), under which evaluations are conducted based on key performance indicators (KPIs) set out in the supplier companies' business plans, and additional project funds are provided to supplier companies that generate excellent results.

Supplier companies wishing to participate in the project must apply to the Korea SMEs and Startups Agency (email: kimjiyeon@kosmes.or.kr) by 6:00 p.m. on March 11. Detailed information can be found in the public announcement posted on the Korea SMEs and Startups Agency website or on the KB Kookmin Bank corporate internet banking page (My Page).

Kang Sukjin, Chairman of the Korea SMEs and Startups Agency, said, "Since the launch of the new government, the importance of safety management for prevention, rather than punishment for serious industrial accidents, has become more pronounced, making the introduction of safety technologies essential beyond the current level of on-site management and supervision. Through this project, we will support the growth of outstanding small and medium-sized enterprises in the industrial safety sector and underpin the sustainable growth of SMEs by spreading a field-oriented safety culture."