Seoul, South Korea – The South Korean Ministry of SMEs and Startups announced today the launch of its 2025 Small and Medium Enterprise Technology Development Support Program, aimed at fostering innovation and accelerating growth in the country's SME sector.

The program, which will provide 117.9 billion won (approximately US$90 million) to fund 779 new projects, is designed to support SMEs at various stages of their technological development and expedite commercialization.

A significant portion of the funding, over 50%, will be allocated to strategic technology areas to enhance South Korea's global technological competitiveness and secure future growth engines. The government has identified 124 strategic items across 13 key areas, including artificial intelligence (AI), biotechnology, carbon neutrality, advanced robotics and manufacturing, semiconductors and displays, and advanced mobility.

To foster innovation and attract global investment, the government will expand its "Scale-up TIPS" program, which provides R&D support to promising companies identified and initially invested in by venture capitalists. A new "Scale-up TIPS Global Track" will also be introduced to support companies seeking to expand into overseas markets. These companies will be eligible for up to 15 billion won in R&D funding over three years.

Additionally, the government will establish a "Global Collaborative R&D" program to facilitate international research collaborations for SMEs. This program will enable South Korean SMEs to partner with top-tier research institutions worldwide, such as MIT and Purdue University, to develop and commercialize cutting-edge technologies.

"The 2025 program will prioritize support for promising future technologies such as AI, biotechnology, and carbon neutrality, and strengthen R&D collaboration with leading global institutions," said Park Yong-soon, Director-General of Technology Innovation Policy at the Ministry of SMEs and Startups. "We aim to ensure that the R&D achievements of SMEs contribute to enhancing Korea's national competitiveness."

Applications for the first half of the year will be accepted from February 3 to 17, with the second half applications due from May 8 to 21. Detailed information on eligibility criteria, support content, and conditions can be found on the Ministry of SMEs and Startups website or the Integrated Research Support System.