GWANGJU < invest Korea

According to Newsis News,

(GWANGJU=Newsis News) The Small and Medium Business Administration (SMBA) of Gwangju City and South Jeolla Province anounced April 6 that it will be accepting applications for the 2107 Engineering Service Provider (ESP) Cooperation Technology Development Project until May 1.

As a requirement, small or medium businesses hoping to utilize R&D as a means for global growth must apply in cooperation with designated providers of specialized technical services, such as design, interpretation, testing and analysis.

The government will provide selected companies with up to KRW 200 billion per project to be pursued for a maximum 2 years to develop new technologies and products that can generate profit.

Small and medium businesses in the government's 40 major new growth industries (EVs, bio, medical equipment, energy and optical materials, etc.) are eligible for application, and must pair up with one of the 36 specialized technical companies designated by the SMBA.

Moreover, while currently companies can only receive support from SMBA for up to 2 projects per year, participation in the ESP project will be considered an exception.

lcw@newsis.com

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