The Korea Federation of Small and Medium Enterprises announced on the 8th that it will hold the '4th Stainless Steel Small and Medium Enterprises Idea Contest' in collaboration with the KISCO for cooperative relations between large and small enterprises and sustainable development of the steel industry.
This contest has been organized with the support of the Ministry of Trade, Industry and Energy, the Ministry of Small and Medium-sized Enterprises and Startups, POSCO, and HYUNDAI BNG STEEL to discover products, technologies, and ideas applicable to stainless steel.
In particular, this year’s contest has broadened its target to include 'all ideas related to stainless steel,' including everyday life areas, to contribute to innovation in the steel industry through creative ideas. The participation target has also expanded from existing corporations to include 'employees of small and medium enterprises.'
A total of 40 million won in cooperative support funds will be awarded to the winners. The winners of the Minister of Trade, Industry and Energy award and the Minister of Small and Medium-sized Enterprises and Startups award will each receive 10 million won, while the winners of the Korea Federation of Small and Medium Enterprises award and the KISCO award will each receive 5 million won. Additionally, tailored support projects with POSCO and KISCO, such as consulting for obtaining eco-friendly and green technology certification, are expected to be connected in the future.
Yang Chan-hye, head of the Innovation Growth Division at KBIZ, said, 'Since the stainless steel industry is a core sector that serves as the foundation for various manufacturing sectors, it is important to create a collaborative ecosystem between small and medium enterprises and large corporations.' He urged 'active participation and interest from small and medium enterprises with ideas for new demand creation.'