Seoul: The government of South Korea announced its decision to invest 170 billion won (US$113.3 million) in supporting small and midsize companies involved in the production of advanced strategic materials, parts, and equipment. This initiative also extends to sectors related to cutting-edge semiconductors and associated industries. According to Bahrain News Agency, the Ministry of Trade, Industry, and Resources stated that the program will accept applications until July 17. The initiative aims to assist promising small and midsize suppliers in producing critical materials and strategic goods essential for stabilizing supply chains in high-tech sectors. The ministry detailed that the program will provide 30 to 50 percent assistance for new domestic facility investments made by eligible companies. The government has increased its national funding allocation to 100 billion won this year, marking a 30 billion won increase from last year. Including contributions from local governments, the total support is expe cted to amount to approximately 170 billion won.
Menu