The Gyeonggi-do Business & Science Accelerator (GBSA) is launching a full-scale initiative with Icheon City to nurture semiconductor materials, parts, and equipment companies.
GBSA announced on the 16th that it is accepting applications for the "2026 Icheon City Materials, Parts, and Equipment Company Development Support Program" until April 3rd. This semiconductor-specialized program, newly introduced this year by Icheon City and GBSA, aims to strengthen technological competitiveness and support sustainable growth of small and medium-sized materials, parts, and equipment companies in Icheon, one of Korea's leading semiconductor clusters.
Support covers two areas: "Product Innovation" for technological advancement and "Market Development" for market expansion. The Product Innovation track supports prototype development, industrial property rights applications, and product certification acquisition. Market Development assists with overall marketing activities including promotional materials production, online and offline advertising, and participation in domestic and international exhibitions.
Participating companies may apply for multiple projects, provided that prototype development accounts for at least 50% of the total project budget. Selected companies will receive up to 44 million won each, covering up to 70% of total project costs.
Eligible applicants are semiconductor materials, parts, and equipment manufacturing SMEs that have operated headquarters or factories in Icheon for at least three years as of the announcement date. Companies must hold materials, parts, and equipment specialist certification or generate at least 50% of revenue from related business. Operating a corporate research institute or dedicated R&D department is also mandatory.
Companies holding environment-related certifications such as NET (New Excellent Technology), NEP (New Excellent Product), green certification, or ISO14001 will receive up to 5 bonus points in document evaluation. GBSA will finalize support recipients through document screening, on-site inspections, and presentation evaluations. Selected companies will execute projects through November after signing agreements.
Kim Gil-ah, Head of GBSA's Balanced Development Division, said, "With the global semiconductor cycle now entering a strong upward phase, it is more important than ever for Icheon's materials, parts, and equipment companies to establish a foundation for growth. We expect this program to serve as a catalyst for elevating our companies' global competitiveness to the next level."
Applications can be submitted online through the Gyeonggi Business Secretary website.
