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Daegu/Gyeongbuk to spend up to KRW 200 mln to help SMEs spur product development

According to Yonhap News,

SMEs and Startups Agency Daegu/Gyeongbuk office announced on Mar. 25 that they’re now looking for SMEs who’ll join a program to promote locally specialized industries + (R&D) in a bid to help entrepreneurs hit hard by the economic fallout from the coronavirus.

The project estimated to cost roughly KRW 9.6 billion supports seven separate industrial fields- medical/ bio healthcare, distributed energy resources, advanced materials and components, smart digital devices, bio beauty, high-tech molding and technical textiles, along with R&D projects to turn innovative ideas into commercially valid merchandise, specially designed to spur SME’s product development both in consumer & industrial goods manufacturing markets. Participants can be covered as much as 70 percent of their business expenses within a limit of KRW 200 million per each task for a year. Applicants must be based in Daegu/ Gyeongbuk regions and can apply until Apr. 10.

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Source: Yonhap News (Mar. 25 , 2020)