Lee Sang-hoon, president of Samsung Electronics Management Support Office, 

and other Samsung Electronics executives pose together with CEOs of 30 

SMEs and mid-size superstar companies for a group photo at an inauguration 

ceremony of the fifth crop of innovative technology development at 

Samsung Digital City in Suwon on March 20.

Samsung Electronics has inaugurated the fifth crop of innovative technology development with 30 SMEs and mid-sized superstar companies in order to provide the latter with technology development funds and give them opportunities to participate in new technologies and product development.

Among those on hand at the inauguration ceremony at Samsung Digital City in Suwon on March 20 were Lee Sang-hoon, president of Samsung Electronics Management Support Office, Senior Executive Vice President Choi Byung-suk of Samsung Electronics Co-existence Center, and representatives of the member companies of the fifth class of innovative technology development.

Samsung Electronics President Lee said in a speech, “Samsung Electronics and member companies will proactively develop innovative technologies differentiating themselves from others by closely collaborating from the stage of idea sharing. Samsung Electronics’ R&D Division will be actively engaged in the program to successfully carry out innovative tasks and maximize research outcomes through aggressive collaboration.”

Lee went on to say that he stressed speed and efficiency to stay competitive in consideration of the characteristics of the short lifespan of products and technologies in the electronics industry and rapidly changing market conditions.

Twenty-five of the 30 member companies of the fifth class of innovative technology development have no business ties with Samsung Electronics. They include nine software development companies to firm up IT and convergence technologies.

Samsung Electronics is embarking on joint projects to develop and commercialize technologies with 10 SMEs and mid-sized superstar companies whose proprietary technologies were selected in a public contest. 

AITEC is working on the development of a smart TV web engine while FXGear is developing a mobile graphic engine. 

Fifty-six member companies have participated in the joint development of 70 technologies and product applications since the first crop of innovative technology development was launched in 2009. The beneficiaries saw their sales hit 1.26 trillion won thanks to joint development and technology commercialization. Seventeen of the beneficiaries became cooperative companies of Samsung Electronics. 

Lumens, a member company of the first crop of innovative technology development, has succeeded in the development of the back light unit of super-slim LED TVs in collaboration with Samsung Electronics and has grown into one of Samsung Electronics’ cooperative companies. 

Park Tae-hoon, president of Nextyn, a member company of the fifth crop of innovative technology development companies, said Samsung Electronics’ collaboration with SMEs in converting new technology ideas into reality is an exemplary case of co-prosperity between large- and small-sized companies.