Large-size firms in South Korea will soon be able to participate in joint research and development projects with smaller local contractors with significantly less investment.

The government announced the measure on Thursday as part of a series of initiatives designed to help enhance the self-reliance of domestic component and equipment industries that may be harmed by Japanese trade restrictions. 

Announcing the measures in a meeting with industrial think tanks in Daejeon, Minister of Trade, Industry and Energy Sung Yun-mo vowed drastic changes in the research and development system in order to lower the country’s overseas independence in those respective fields. 

The measures are first aimed at strengthening cooperation between small and mid-sized enterprises and conglomerates to develop home-grown technologies and to that end will reduce the amount of financial contribution required of large-sized firms to joint R&D projects. 

The government says it plans to increase investment in those projects.  

The ministry also plans to provide active financial and administrative support for the introduction of foreign technologies so local firms could quickly emulate them and produce domestic alternatives.