ULSAN < invest Korea

According to Yonhap News,

Ulsan announced on June 5 that it receives applications from the companies who want to participate in "Future-Oriented Business Model Consulting" by June 25 to support business conversion and diversification of auto parts manufacturers.

Those eligible are SMEs located in Ulsan, producing mainly car engine parts and power transmission device.

The City explained that due to conversion to future cars recently, electrification parts take more share in sales and finished cars.

However, spheres of business for engine and power transmission device has shrank.

In response, the City pushes for a project to analyze business conversion and diversification capabilities of auto parts suppliers, and to come up with solutions.

It will select 10 companies in total, supporting 'Growth Consulting' of KRW 2 million.

For 2 of them, it will support 'Business Model Establishment' of KRW 40 million.

Growth Consulting is to provide customized growth support by dividing into 3 categories like re-modeling type, growth support type, and capability development type.

Business Model Establishment is to support identifying mid-long term growth goal and success factors, establishing business model for new products integrating external factors, and customized execution plans.

The City plans to continue to provide support including securing financial resources and preparing preferential treatment.

Companies to participated are selected based on document review and on-site visit, with no cost required for companies. For details, refer to the website of Ulsan Techno Park, or call Industrial Planning Office (☎052-219-8625).

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Source:Yonhap News (June 5, 2021)