Land Hotel signed a business agreement with the Ministry of SMEs and Startups (hereinafter referred to as the Ministry of SMEs and Startups) and the Korea Small and Medium-Sized Agricultural and Fishery Cooperation Foundation (hereinafter referred to as the Cooperative Foundation) to create a "joint R&D fund with purchase conditions" worth 4 billion won.
The agreement was promoted to support small and medium-sized companies to use 4 billion won in funds raised by Gangwon Land and the Ministry of SMEs and Startups to develop new technologies. The cooperative foundation will be in charge of opening and operating the agreement fund account, contributing to the fund, and following-up management.
Through this agreement, Kangwon Land will provide funds to small and medium-sized companies that develop technologies and parts necessary for slot machine manufacturing projects in cooperation with the Ministry of SMEs and Startups. The core technologies and parts of slot machines are 3D monitors, input and output boards, ticket exchangers, and LED buttons, which are planned to help create an ecosystem for small and medium-sized enterprises by localizing them.
"This project will be an opportunity for the government and Gangwon Land to work together to support R&D funds for small and medium-sized companies," said Lee Sam-gul, CEO of Gangwon Land. "We expect it to greatly help Gangwon Land improve its machine manufacturing business technology and export."
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