The Ministry of SMEs and Startups and Samsung Electronics will raise a total of 100 billion won over five years.
Manufacturing site improvement, employee training, patent disclosure,
Comprehensive support, including introduction of new technologies

On the 24th, Samsung Electronics signed a 'Business Agreement for Cooperation in the Distribution and Expansion of Smart Factories for Domestic SMEs' with the Ministry of SMEs and Startups and the Korea Federation of SMEs at COEX in Samseong-dong, Seoul. The signing ceremony was attended by Minister of SMEs and Startups Hong Jong-hak, Chairman of the Korea Federation of SMEs Park Sung-taek, and Vice Chairman of Samsung Electronics Yoon Boo-keun.

Through this agreement, the Ministry of SMEs and Startups and Samsung Electronics will each contribute 10 billion won annually over the next five years, totaling 100 billion won, to expand the construction of smart factories to 2,500 small and medium-sized enterprises.

Separately, Samsung Electronics will invest a total of 10 billion won over five years to support small and medium-sized enterprises (SMEs) in developing sales channels by hosting exhibitions of excellent products and technologies, and finding and matching domestic and international business partners and investors.

Samsung Electronics also decided to help small and medium-sized enterprises (SMEs) that are eligible for support establish sustainable management systems through employee training, patent disclosure, and introduction of excellent new technologies.

Samsung Electronics expects that the construction of smart factories will contribute to the creation of social value by strengthening the overall competitiveness of not only its partner companies but also domestic small and medium-sized enterprises (SMEs) in general, thereby expanding sales, improving corporate culture through innovation in manufacturing sites, and establishing a foundation for SME innovation.

Samsung Electronics also expects that the expansion of smart factories will create approximately 15,000 jobs.

Minister of SMEs and Startups Hong Jong-hak said, "Today's signing ceremony is an opportunity to put into practice our will to expand mutually beneficial cooperation and open innovation," and added, "Samsung's smart factory mutually beneficial cooperation case is a turning point for our society to grow together, and it will be of great help in enhancing the competitiveness of small and medium-sized enterprises in particular."

Park Sung-taek, Chairman of the Korea Federation of SMEs, said, "We will actively strive to revitalize the manufacturing industry and create quality jobs by linking the various support projects being promoted by the Korea Federation of SMEs and Samsung Electronics to achieve balanced growth of large and small businesses and create an industrial ecosystem."

Samsung Electronics Vice Chairman Yoon Boo-keun "We plan to actively support the expansion of smart factories in 2,500 small and medium-sized enterprises over the next five years, thereby increasing the number of companies where young people want to work," he said.

Meanwhile, Samsung Electronics supported the construction of smart factories by deploying approximately 150 manufacturing field experts from 2015 to 2017 to a total of 1,086 domestic small and medium-sized enterprises (SMEs) by transferring their know-how in field innovation, system construction, and automation. Through this, small and medium-sized enterprises that built smart factories improved quality and productivity by 54% and 58%, respectively, increased new sales by approximately 1.9 trillion won, and created 4,600 jobs.
In the same vein, Samsung Electronics held the 'Smart Biz Expo' on the 24th at COEX in Samseong-dong, Seoul, for four days to support small and medium-sized enterprises in developing new sales channels.

The 'Smart Biz Expo', now in its third year, is a venue where small and medium-sized enterprises (SMEs) that have learned Samsung Electronics' know-how in smart factories, manufacturing, and marketing can exhibit their products and technologies and meet domestic and international business partners and investors to explore new sales channels and attract investment.

Around 100 small and medium-sized enterprises (SMEs) that have built smart factories participated in this event, introducing their excellent technologies and products at exhibition booths and holding one-on-one purchasing and investment consultations with domestic and international business partners.

Withers Korea CEO Ahn Gyeong-nam, a manufacturer of industrial adhesive tapes, said, “Thanks to the mentors from Samsung Electronics, many of the issues we had to improve in our manufacturing sites were resolved, and that momentum allowed us to become a small and medium-sized enterprise that can confidently compete in the global market.” He added, “Our small and medium-sized enterprises should not be afraid of market changes and must take on challenges to survive.”