According to Yonhap News,

The government will invest 463.5 billion won (US$324.7 million) by 2033 in research and development (R&D) projects led by medium-sized companies with export potential, the industry ministry said Thursday.

Under the plan, the Ministry of Trade, Industry and Energy has designated 10 R&D projects on cutting-edge technologies that will receive government funding.

The technologies include future mobility, advanced manufacturing, energy and rechargeable batteries.

Medium-sized firms leading R&D projects on such technologies will receive around 4 billion won per project on average over the next three to four years, according to the ministry.

"For sustainable growth, medium-sized companies must not remain confined to the domestic market but should expand into the global market by securing global competitiveness through technological innovation," said Oh Seung-cheol, deputy minister of industries and enterprises at the ministry.



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Source: Yonhap News (April 24, 2024)