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Jeju to Provide KRW 246M for 3 Smart Grid Projects

On May 9, Jeju Special Self-Governing Province and Jeju University Smart Grid Research Center revealed it will fund 3 projects selected through a public contest to foster smart grid SMEs and aid their entry into overseas markets.

The total amount of funding amounts to KRW 246 million and each project will receive up to KRW 82 million. However, applicant companies must fund at least 25% of the project.

The selected projects are the development of high-efficiency parts related to solar power generation, the development of electric vehicle power consumption prediction systems and the development of solar integrated remote monitoring systems.

The projects, as well as the funding, starts this month and there will be a final briefing session in December to evaluate the outcome of the projects.

Jeju started funding such projects back in 2011 and has since funded 27 technology development projects KRW 3.1 billion. The projects have resulted in 148 new jobs, 46 patents and certifications and the development of 23 new products.

Source Text

Source: Newsis (May 09, 2018)

** This article was translated from Korean.