Chairman Kang Seok-jin of Korea SMEs and Startups Agency (KOSME) made an inspection tour of Space Solution, an aerospace parts maker, based in Daejeon. There, he had a meeting with company officials.
The meeting was designed to investigate the current status of SMEs and venture companies who are leading technological innovation in advanced manufacturing sectors, and explore ways of proving support to them, after KOSME lent an ear to complaints and grievances they experience.
Space Solution owns its proprietary technologies in the aerospace and precision manufacturing sectors, and the company has participated in the Nuri-ho project, a Korean space program to develop a launch vehicle, since 2010.
It has developed related valves, tanks, and the roll and attitude control system for KSLV-Ⅱ.
In particular, Space Solution was selected as the first investment recipient of the nation’s first space venture capital fund No. 1.
The company has recently entered the overseas satellite parts market and expanded collaboration with global aerospace companies.
KOSME Chmn. Kang looked into Space Solution’s R&D center and core technologies and products. He also discussed providing support to the company’s global market entry.
Space Solution CEO Lee Jae-hun said, “We have come to have confidence by participating in the Korean space development project. Plans to enter the global aerospace market in earnest and express hope the full support will be offered to help the space industry ecosystem, having built through the Nuri-ho project, keep on growing.”
In return, KOSME Chmn. Kang said, “Technology levels of the Korean aerospace industry, a new future industry, is constantly evolving and a leap forward is expected in the years to come, so KOSME will not spare efforts to lead support so that companies with excellent technologies in the aerospace sector can grow.”
KOSME Holds SME Tech Market Explanation Session for SMEs
Korea SMEs and Startups Agency (KOSME) hosted the “SME Tech Market Explanation Session” at Grand Mercure Ambassador Hotel in Changwon, Gyeongsangnam-do, on March 12.
The session took place with some 100 people in attendance, including Ban Jeong-sik, director in charge of regional innovation at KOSME, CEO Park Geun-jong of Youngjin Tech, concurrently chairman of the Gyeongnam Small and Medium Enterprise Award-winning Business Association, and member companies of the association.
SME Tech Market, hosted by the Ministry of Economy and Finance, is a policy support platform designed to meet SMEs’ needs, such as public entities’ certifying and registering of their excellent technologies, products, and market exploration.
The value of public entities’ purchases through the SME Tech Market stood at 1,026.4 billion won on a cumulative basis. Currently, 109 organizations participate in the market.
In particular, KOSME is in charge of the operation of the “Integrated Support HUB,” a consultative body among 36 SME support institutions within SME Tech Market, supporting the growth of innovative SMEs through R&D through collaboration, financing and overseas market entry.
KOSME Director Ban said, “We will spearhead into the growth and development of innovative SMEs by expanding markets of excellent SMEs with innovative technologies through collaboration, continue to communicate with SMEs through KOSME’s regional centers and spur companies’ participation in the SME Tech Market.”
KOSME Promises Startups Investments and Loans Worth 100 Billion Won
The Ministry of SMEs and Startups and Korea SMEs and Startups Agency (KOSME) began accepting applications for policy funds in the format of investments and loans in accordance with the 2025 policy fund loan plan for SME on March 4.
The 2025 budget for investments and loans to SMEs is divided into 50 billion won in growth sharing borrowings and 50 billion won in venture debts.
Growth sharing loans are given each company up to 2 billion on conditions KOSME acquire convertible bonds, redeemable convertible preferred stock and convertible preferred stock of companies with high probability of IPOs.
In particular, KOSME plans to concentrate its support on companies, unknown to the private investment market, located in the non-Seoul metropolitan area and startups.
Each recipient will be allowed to borrow less than 300 million won in cumulative advance investments this year.
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