Information session to be held on August 14
According to the 'Survey Results on Opinions of Small and Medium-sized Manufacturing Companies on Smart Factories' released by the Korea Federation of Small and Medium Business in January of last year, 83.3% of small and medium-sized manufacturing companies complained that the burden of investment funds is heavy when building smart factories.

Going forward, companies with similar manufacturing processes can come together to build smart factories at a low cost.

The Ministry of SMEs and Startups announced on the 6th of this month the '2018 Industry-Specific Smart Factory Construction Support Project,' which supports companies in building smart factories through a joint purchasing method.

This project is a government initiative that supports half of the cost when five or more small and medium-sized enterprises (SMEs) and mid-sized companies with similar manufacturing processes come together to adopt a smart factory. Adopting companies can build smart factory systems at a low cost, and suppliers can expect high profits by selling the same solution to multiple companies.

A total of approximately 3 billion won is scheduled to be invested, supporting the purchase of industry-specific specialized solutions as well as automation equipment, controllers, and sensors integrated with those solutions. Companies can receive support of up to 40 million won, covering up to 50% of the cost of introducing smart factories. Companies and organizations wishing to participate should independently select suppliers and recruit at least five companies with similar manufacturing processes, download the form from the Smart Factory Promotion Team website (http://bms.smart-factory.kr), and apply via email (kosf@smart-factory.kr).

In addition, if companies or organizations are unable to select a supplier, they can receive information on the supplier pool from the Smart Factory Promotion Team, and suppliers not included in the pool can also participate in the project.

This project will prioritize support for companies facing difficulties due to changes in government policies or government regulations, such as the strengthening of the HACCP hygiene management system, and will encourage participation by granting extra points to applicants from areas with a high concentration of similar industries, such as youth-friendly leading industrial complexes.
The Smart Factory Promotion Team will hold a business briefing for companies wishing to participate in the project. The briefing will be held from 2:00 PM to 4:00 PM on August 14 at Conference Room A (B2) of the Korea Chamber of Commerce and Industry. Companies participating in the briefing session will be able to hear an explanation of the Smart Factory Dissemination and Expansion Project. Following a Q&A session, there will also be an opportunity for impromptu meetings between companies interested in participating and suppliers.

Jo Joo-hyun, Director General of Technology and Talent Policy at the Ministry of SMEs and Startups, stated, “This project is a national agenda item and is currently being implemented as one of the government’s eight leading innovation growth projects,” adding, “It will benefit companies that have previously hesitated to adopt smart factories due to financial burdens, etc.” He further noted, “We expect that collaboration through smart factories can be expanded by allowing companies that have established similar systems to exchange information with one another.”