Gov't announces new measures to revitalize manufacturing industry and support SMEs

2019-03-07 3

중기부, 스마트공장 확산과 4조8천억원 벤처펀드 조성 추진

The South Korean government unveiled new measures... to revitalize the sluggish manufacturing sector and support small and mid-sized businesses.
The Ministry of SMEs and Startups plans to create a total of 30-thousand "smart factories" by 2022,... up from their previous goal of 20-thousand.
These factories use the latest in ICT... to improve their productivity.
The government also announced the creation of a venture fund, in coopeation with the private sector,... worth around 4-point-2-5 billion U.S. dollars in 2019.
The fund will be used by venture capital firms to invest in SMEs.

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