Samsung Electronics will allow smaller local companies to use more of its royalty-free technologies as part of its efforts to attain shared growth, according to the industry ministry on Friday.
Smaller firms will be able to capitalise on Samsung's 505 cases of technologies without paying royalties, including 213 mobile and 68 semiconductor patents, the Ministry of Trade, Industry, and Energy said.
"The transfer of technologies from conglomerates to small-and-medium sized companies will help overcome hardships sparked by the COVID-19 pandemic," the ministry said in a statement.
Since 2013, South Korea has been operating a program that centres on inducing large companies to share technologies with small companies, reports Yonhap news agency.
Earlier this year, SK Group, with affiliates including No. 2 chipmaker SK hynic Inc., also shared 75 different technologies with 53 smaller businesses under the programme.
South Korea plans to get other industry leaders, including POSCO and Korea Hydro & Nuclear Power Co., to share their patents with small businesses over the second half as well.
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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