SEOUL, Jan. 30 (Korea Bizwire) — The government has unveiled a comprehensive technology road map to prepare for the Fourth Industrial Revolution, including plans to upgrade smart factories by 2020.
The Ministry of SMEs and Startups has released the ‘SMEs Technology Road Map 2018 – 2020′, in which 236 technology development projects in a total of 28 sectors are recommended for companies to pursue.
The blueprint, which has been designed to help strengthen technological growth, outlines possible R&D project ideas for the next three years, including useful technological development themes, from which companies can draw inspiration and hopefully develop new products.
According to the new plan, the ministry will ramp up technical support for SMEs, with the goal of commercializing self-examination equipment and process optimization solutions by 2020.
When it comes to the distribution sector, companies with advanced technological capability in the fields of automation, drones, and robots will be prioritized in the government’s SME support schemes.
Technology R&D projects for SMEs that are directly related to the road map are available for viewing on the official website of the Korea Technology and Information Promotion Agency for SMEs.
The technology road map is the latest in a series of efforts by the SMEs ministry to create an environment where small businesses around the country can prosper amid growing technological competition.
Last August, the ministry held a crowdfunding campaign for SMEs with creative ideas in a bid to promote and boost private investment.
Participants went through a total of three steps including a cover letter evaluation, a mock funding contest and the final round to win an award from the minister, consisting of a cash prize and incentives.
The Ministry of SMEs and Startups was set up by the Moon Jae-in administration last July, with the hopes of boosting small independent companies and tackling high youth unemployment rates.
South Korea’s jobless rate for young people aged between 15 and 29 stood at 10.1 percent as of last June.