Deliberation on win-win models at the Large and Small Business Win-Win Council
Promoting localization of materials, parts, and equipment technologies to replace imports
Proposal for government support for 4 localization win-win models


Domestic small and medium-sized enterprises and large corporations are pursuing the localization of key technologies by establishing cooperative relationships in fields such as additives for high-strength industrial materials, which have a high dependence on imports.

The Council for Mutual Growth between Large and Small Enterprises held its third meeting on the 13th with Minister of SMEs and Startups Park Young-sun in attendance, discussed four mutual growth models between large and small enterprises including the localization of additives for high-strength industrial materials, and resolved to propose government support for technology development and policy funds.

The four win-win models resolved at this meeting for the localization of materials, parts, and equipment include the development of additives for high-strength industrial materials, special yarn manufacturing equipment, high-performance and wear-resistant control valves, and cartridge-type electronic control valves. A cooperative relationship has already been established through the signing of mutual cooperation MOUs between large and small businesses.

In addition, the Large and Small Business Co-prosperity Council plans to continuously identify models for mutual growth between large and small businesses by regularly holding industry-specific technology purchasing consultations in collaboration with the SME sector, covering fields such as displays, automobiles, and machinery.
Consultation meetings are scheduled to be held in March for displays, April for automobiles and machinery, May for electronics, and June for basic chemicals.

The large corporations participating in the Large-Small Business Co-prosperity Council on this day agreed to continue participating in the council's activities through technology development contingent on purchase, public-private joint technology development, and the materials, parts, and equipment venture fund.

Chairman Hwang Cheol-ju stated, “These win-win models are examples of voluntary cooperation between large and small businesses that reflect on-site demands,” adding, “We will continue to discover win-win models between large and small businesses centered around the Win-Win Council.”

Minister Park Young-sun stated, “There is an urgent need to localize production in sectors with high import dependency, and I believe the optimal method for this is a win-win model between large and small businesses,” adding, “We plan to provide unsparing support to ensure the success of the localization win-win models discovered this time.”

Meanwhile, the Council for Mutual Growth between Large and Small Enterprises, launched on October 16, 2019, is an affiliated organization of the 'Materials, Parts, and Equipment Competitiveness Committee,' which is a response body to Japan's export restrictions. It was established to build a horizontal mutual growth cooperation model between large enterprises and small and medium-sized enterprises and to provide customized support packages including budgets, funds, and special regulatory provisions.