Chungbuk-do and Chungbuk Science and Technology Innovation Institute (President Kim Sang-kyu, hereinafter Chungcheongbuk-do Science and Technology Institute) said they will support auto parts companies in the province to overcome the crisis and strengthen export competitiveness.

With the support of Chungbuk-do, Chungbuk Science and Technology Institute provided a total of 74 million won to domestic and foreign marketing support projects for auto parts companies in 2021, supporting 11 export logistics costs, five domestic exhibitions, and nine overseas non-face-to-face export consultations.

Through the Chungbuk Science and Technology Institute’s support project, participating companies derived tangible results such as an increase in exports and the establishment of new overseas markets.

In 2022, the domestic and foreign marketing support project for automobile parts companies will provide less than 3 million won for one ▲ export logistics cost support company and 3 million won for one ▲ domestic exhibition support.

The main contents of the support project are to enhance global product competitiveness and strengthen export competitiveness by easing the burden of logistics costs for automobile parts exporters in the province, and to support the creation of new markets and market development.

As of the date of business announcement, any small and medium-sized automobile and transportation equipment parts-related small and medium-sized companies and front and rear industries with one of the headquarters, workplaces, and factories in North Chungcheong Province can apply.

Kim Sang-kyu, president of Chungbuk Science and Technology Institute, said, “The automobile industry is facing a supply chain crisis triggered by the U.S.-China conflict and COVID-19 and is facing rapid changes from internal combustion engines to eco-friendly future cars.”

Companies that want to apply for the project can submit related documents by April 7th after registering with the Chungbuk Science and Technology Institute’s task management system. Other details can be found on the Chungbuk Science and Technology Institute website and the business announcement.