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Policy Direction of the Year

  • Innovate manufacturing to enhance competitiveness of SMEs and startups

    Innovate manufacturing to enhance competitiveness of SMEs and startups
    01 Expand support for smart factory / - build 30,000 smart factories by 2022 - Promote private-led cooperation model - Double the funding support for SMEs
    02 Private-led R&D, Expand markets for Innovative products / - Empower the private sectorto select R&D projects, - Make a trial purchase of Innovative products to support market expansion, - Expand public purchase of R&D products
    03 Improve living conditions - for employees provide 40,000 rentalhouses - Expand savings deposit program for young employees - Improve welfare of employess in SMEs
    04 Policy financing that values potential / - Allow voluntary repayment of loans for SMEs with excelent technology - Expand loans for SMEs with bw sales and competuitive technology - Actively provide funding through special examination

  • Accelerate startup boom to become innovation and startup-driven country

    Accelerate startup boom to become innovation and startup-driven country
    01 Prepare for the 2nd startup boom / - Create venture fund of KRW 4.8 trillion - Revitalize M&A and exit markets
    02 Promote technology startup / - Support startup in SMEs, universities, research institutes - Increase investments in startup in universities - Expand TIPS (Tech Incubator Program for Startup)
    03 Allow second chance - Increase exemption of joint guarantee (90,000 cases in 2019) - Dispose of non-performing loans of KRW 1.2 trillion - Provide special funds to low-credit companies with competitive technology
    04 Improve regulation for new industry - Introduce Regulation Free Zone - Listen to input from industry for regulatory improvement in the field of 4th Industrial Revolution

  • Support innovation by micro Enterprises and self-employed as separate policy targets

    Support innovation by micro Enterprises and self-employed as separate policy targets
    01 Increase sales and reduce casts of micro enterprises - Increase Onnuri gift card to KRW 2 trillion (KRW 10 trillion by 2022) - Successful introduction of Zero Pay at 0% credit card service fees
    02 Lay foundation for innovation in micro enterprises and self-employment / - Enact framework act on micro enterprises and self-employment - Establish a micro enterprise support center (2 centers by 2019, 10 centers by 2022)
    03 Support well-prepared startup and revival of failed startups / - Encourage well-prepared startup by supporting professional technology training (10,000 trainees) - Introduce debt settlement system for failed businesses and support job search
    04 Revitalize local commercial districts and traditional markets / - Commercial district renaissanece project (13 in 2019 → 30 in 2022) - Modernize traditional markets and enhance fire safety

  • Lay foundation for fair economy and drive open innovation beyond win-win cooperation

    Lay foundation for fair economy and drive open innovation beyond win-win cooperation
    01 Create a condition for fair trade / - Introduce delivery charge adjustment and punitive damage (july 2019) - Create an environment for fair trade and tackle unfair trade practices
    02 Eliminate technology theft from SMEs - Introduce mandatory NDA - Introduce technology transaction record system - Transfer burden of proof to a defendant company (Amend Acton mutually beneficial cooperation in first half 2019)
    03 Nudge like win-win cooperation outcomes / - Introduce Cooperative profit sharing system to promote voluntary sharing of outcome - Spread mutually beneficial settlement (target : KRW 120 in 2019)
    04 Create and maintain an open innovation eco system / - Operate Startup Co-work Space from home and abroad - Hold Global Startup Festival on ASEAN-ROK Summit sidelines - Enhanve technology exchange network between large, medium, and small enterprises
  • Innovate manufacturing to enhance competitiveness of SMEs and startups
  • Accelerate startup boom to become innovation and startup-driven country
  • Support innovation by micro Enterprises and self-employed as separate policy targets
  • Lay foundation for fair economy and drive open innovation beyond win-win cooperation