OREANDA-NEWS. POSCO is accepting government-civilian investment technology development projects up to March 29th.

The Government-Civilian Investment Technology Development Initiative is a representative shared growth activity, offering cash support to carry out improvement projects including small and medium company product localization as well as new technology and product development.

POSCO, which has been participating since 2009, has selected and supported a total of 33 projects.

The Small Business Administration will support small and medium companies with R&D funds formed jointly with POSC, and products will be purchased once the small and medium companies succeed in product development.

With this initiative, POSCO can increase quality of purchased products and secure stable suppliers, while small and medium companies can receive support funds for new technology and product development as well as secure a market for developed products.

Projects that lead to POSCO purchase supply amounting to more than 5 times the Small Business Administration support funds within 3 years after development are subjects of collection.

Support funds range from 75% to a maximum of 1 billion KRW of development costs. Small and medium companies who succeed in developing the project will receive benefits of a 3-year long-term contract with rights and additional points in the supplier result evaluation (SRM).
Government-civilian investment projects are accepted with quarterly concentrated collection periods.

POSCO employees can suggest projects within the internal Smart Workplace (SWP) system by installing the Benefit Sharing application, while supplier company employees can make suggestions through the `Benefit Sharing` banner located on the right side of the main e-Procurement page.