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Agreements Reached to Support the Technology Development of Ten SMEs of Ulsan Designated as an Industrial Crisis Zone

According to Yonhap News,

Ulsan Oct 23 (Yonhap) -- The Automobile Technology Support Team of Ulsan Techno Park announced on Oct. 23 that it had signed agreements with businesses participating in the scaling up within the Industrial Crisis Zone and in R&D technology development projects.

The agreements were reached with ten businesses including Global SE. Ulsan Techno Park plans to invest a total of KRW 800 million or KRW 100 million per business for the R&D and technology development projects.

The projects are conducted by the Ministry of SMEs and Startups in an effort to further develop the technological competency of small and medium enterprises (SMEs) in the Industrial Crisis Zone and SMEs in industries in crisis and to lay the foundation for their consistent growth by supporting their tailored R&D.

"The projects will serve as an opportunity to newly develop high value added products, to improve existing products and to diversify business areas of the shipbuilding and automobile industries currently suffering a slump," said an official of Ulsan Techno Park.

Source Text

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Source: Yonhap News (Oct 23, 2019)

* This article was translated from Korean.