[Industry professional news channel itsTV] Gov't sets up 5 bln fund to boost small firms' R&D

The South Korean government and state-owned companies joined hands to support small and medium firms that manufacture equipment and core parts for natural gas production.




On September 2, the Small and Medium Business Administration held a signing ceremony at the headquarters of Korea Gas Corporation (KOGAS) to set up a 5 billion won fund to jointly support research and development of small and medium firms.




The event was attended by Kim Dong-sun, president of the Small and Medium Business Administration, Choo Kang-soo, president of the KOGAS and officials from 16 small and medium firms.




Small and Medium Business Administration and KOGAS will each spend 2.5 billion won to form the fund and plan to finance the small and medium firms that try to locally manufacture energy equipment and develop new products.




Industry professional news channel itsTV
http://www.itstv.net

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