Urgent.News

What's breaking now, across thousands of outlets.

World

중기부, 내년 예산 18조724억원 편성…성장 사다리 구축, 안전망 강화

The Ministry of SMEs and Startups has announced a record budget of 18.72 trillion won for the next fiscal year, marking a 9.4% increase from the current year's budget. This budget is designed to build a growth ladder and strengthen safety nets for small and medium-sized enterprises. With a 35.78 trillion won increase in the research and development budget, the ministry will target four major growth areas: future industries, technology innovation, pharmaceutical biotech, and K-consumer goods.

The ministry plans to invest in 300 innovative companies across these sectors and provide substantial support for AI transitions in small manufacturing. The ministry also announced a significant boost in support for startups, with new funds allocated to the 'Everyone's Startup' initiative, regional startup packages, and the 'Baby Fund' boosters.

Additionally, the ministry plans to strengthen support for growing companies into mid-sized and export-oriented firms, as well as enhancing crisis and failure support during the growth process. The budget for strengthening the social safety net for small and medium-sized enterprises includes 2050 billion won for health support, 300 billion won for youth insurance, and 1570 billion won for regional safety net institutions.

The ministry aims to provide a total of 5.4 trillion won in financial support through various measures, including grants, loans, and interest subsidies.

Written by urgent.news from Hankyoreh's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Read the original at hani.co.kr →

More in World

Oil prices top US$91 as renewed US-Iran fighting raises global energy shock fears

BRENT crude climbed above US$91 a barrel on Tuesday as renewed fighting between the United States and Iran fuelled concerns over disruptions to Middle Eastern oil supplies, threatening to deepen…

  • Oil prices surpass US$91 per barrel amid US-Iran tensions
  • US forces attack Iranian targets, Iran retaliates on UAE, Jordan
  • Threat of attacks on Kharg Island and Russian refineries raises supply concerns

More from Tuesday 1 September →