Gov’t invites manufacturers to participate in design project

[Courtesy of Korea Institute of Design Promotion]

The Ministry of Trade, Industry and Energy, along with the Korea Institute of Design Promotion, is inviting companies to participate in the 2024 Design-Led Manufacturing Innovation Support Project, with applications accepted until March 15th.

The initiative aims to provide support for beneficiary companies in areas including collaborations with design-focused companies and consultants specializing in design, management, technology, and CMF (Color, Material, Finish).

“We will assist small and medium-sized manufacturing companies in creating new business models and achieving self-reliance amid challenging economic conditions by harnessing the power of design,” Korea Institute of Design Promotion President Yoon Sang-heum said. “Through previous iterations of this project over the past few years, around 42 percent of the companies saw an increase in overseas sales, and around 60 percent reported cost-saving effects.”

The project is operated via the Design-Led Manufacturing Innovation Center established in smart green industrial complexes nationwide. The center serves as a hub to assist small and medium-sized manufacturing companies throughout the entire cycle, from product development (consulting and design development) to promotion and marketing.

The government has been implementing initiatives to enhance the design-led competitiveness of small and medium-sized manufacturing companies since 2019, as part of measures to address the slowdown in the manufacturing sector.

A total of 196 beneficiary companies will be selected in 2024 to undergo competency diagnosis consulting to analyze their design management capabilities and derive business strategies. Based on their participation outcomes, companies could receive tailored support for product and service development, on-site consulting meetups, and promotional assistance.