Korean Yonhap news agency reported on 25th, the government plans to seek triple R&D support for small businesses. The government plans to increase its support for the country’s small and medium enterprises in an effort to create jobs and also strengthen the country’s overall competitiveness, the commerce ministry said Monday (25th).
The ministry plans to allocate the half of its entire R&D fund for SMES in 2017 and also triple the amount of from the current 54 billon won to 170 billion won ($152 million) in 2017. This will help increase the number of the so-called small but strong companies to around 300, the ministry added. The role for KIPO is “very important” given the links between creativity and profits in the “creative economy” of the future. Click
here for the original Yonhap News article.
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