A Posco team provides on-site smart factory consulting at the fertilizer plant of Korea Hyuphwa. (Posco) Posco has begun recruiting participants for its co-growth smart factory support program for small and medium-sized enterprises as it steps up efforts to strengthen the manufacturing competitiveness of Korean suppliers, the steelmaker announced Wednesday.The program, jointly operated with Korea’s Ministry of SMEs and Startups, supports factory automation and digital transformation for small and mid-sized manufacturers.Since launching the initiative in 2019, Posco said it has invested a cumulative 12 billion won ($8 million) in co-prosperity funds and helped establish 632 smart factories.Participating companies have reported measurable operational improvements, according to Posco.Nonferrous metal equipment maker Seil Precision Machinery upgraded its enterprise resource planning and manufacturing execution systems through the program, reducing manufacturing lead times by five days and lowering defect rates by 0.69 percentage point.Ship parts manufacturer Daechun introduced an ICT-linked warehouse automation system that fully automated previously manual production and logistics processes. The company reduced shipment times by 23 percent while significantly cutting logistics costs, Posco said.The steelmaker said it plans to contribute an additional 2 billion won this year to continue expanding support for SMEs.Posco also introduced a new AI-focused track under the program, offering customized support, ranging from smart factory construction to artificial intelligence implementation, tailored to each company’s operational needs and digital maturity.Separately, the company said it has significantly expanded financial support for small and medium-sized steel trading firms.In addition to existing low-interest loan and ESG partnership funds, Posco launched a 400 billion won steel supply chain stabilization fund in cooperation with the Korea Trade Insurance Corporation and Industrial Bank of Korea.“The combined programs have created a financial support ecosystem exceeding 1 trillion won,” a Posco official said.“We will continue helping drive practical growth for Korean SMEs through smart factory support and financing assistance for steel trading companies.”