The Korean government will nurture 1,000 enterprises specialized in green industry in the field of the parts and materials sector by 2013.
The Small and Medium Business Administration, Korea’s ministry-level agency supporting small and medium sized businesses, announced its plan to assist green businesses at the 8th Green Growth Committee meeting held on Jul. 13, led by President Lee Myung-bak.
President Lee Myung-bak (center) at the Green Growth Committee meeting held in Seoul on Jul. 13, 2010
The organization also presented its detailed plan to support small and medium firms in green sectors by each of the stages from establishment, finance, human resources, research and development to overseas penetration.
The Korean government will incubate 1,000 such firms specialized in green industry, in order to generate more jobs by 2013.
The key part of the plan is to focus on supporting research and development (R&D) of localizing parts and materials in green industry, for which currently Korea depends mostly on imports. The government will also set up direct assistance measures so that local green firms can move overseas more easily.
The government will support selected universities in the green sector in particular, so that universities and research centers can create more jobs and extend the designation of green technology university and green technology-centered zones to form a so-called "green industry cluster."
The administration will extend the amount of the support fund from 105 billion won in 2009 to 1.1 trillion won by 2013.
Moreover, every three years the agency will select 200 promising green technologies for small and medium firms to establish the direction of green R&D and assist green firms by providing mainly R&D support.
It will also build global green cooperation centers and green export support centers for small and medium businesses to provide information about the international market, help green firms receive overseas orders, and commission and engage in joint ventures with conglomerates.
source:korea.net
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