industry ministry-export firms
SEOUL, April 24 (Yonhap) — In an announcement made on Thursday, the Ministry of Industry stated that they plan to allocate 463.5 billion won ($324.7 million) until 2033 for R&D initiatives spearheaded by mid-size enterprises possessing strong export capabilities.
As per the plan, the Ministry of Trade, Industry and Energy has selected 10 R&D initiatives focused on advanced technologies that will be supported with government funds.
The technologies encompass upcoming mobility solutions, cutting-edge manufacturing processes, energy systems, and rechargeable batteries.
Large mid-size companies spearheading R&D initiatives in these technologies will be granted an approximate average of 4 billion won per project over the coming three to four years, as stated by the ministry.
Oh Seung-cheol, the deputy minister of industries and enterprises at the ministry, stated that for sustained development, mid-size firms ought not to be limited to their home markets; instead, they should venture into international arenas by enhancing their global competitiveness via advancements in technology.
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