Samsung and ministry invest W30B to help small suppliersSamsung Electronics and the Ministry of Trade, Industry and Energy on Monday reached an agreement to jointly invest 30 billion won ($25.56 million) by 2017, to help some 600 small suppliers install smart production systems in their factories.
Each factory can receive a subsidy of up to 50 million won, but the subsidy can’t exceed 50 percent of the total automation cost. Beyond one-time financial aid, Samsung plans to offer long-term consulting services and dispatch factory experts to its suppliers to offer advice.
Hyundai Motor and LS Industrial Systems (LSIS) will also help the small manufacturers.
with the Korea JoongAng Daily
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