Samsung Display, together with the Ministry of SMEs and Startups, will help companies apply smart factory solutions, the company said on Thursday.
It will take applications from July 27 to August 26. So far it has provided 42 companies with such support in the past three years.
Samsung Display will share its manufacturing and process knowledge as well as assist in building a system for efficient production. It will also provide ERP and MES systems.
The South Korean display maker said companies that received its support saved up to 20 billion in cost in total. Meanwhile, their production efficiency increased by 30% to 40%.
Green Optics, an optical component maker for stepper exposure equipment, collaborated with Samsung Display since 2018 to find 20 areas where productivity could increase. Afterwards, the subcontractor saw defect rate drop by 44% and product lead time reduced by 28%. Inventory stocks decreased over 40%.
Meanwhile, Samsung Display said it also offers up to 1 billion won in funding for SMEs to develop their ideas and provide incentives to its top subcontractors.