DTAQ provides RFHIC funding for Remodeling of Weapon Systems

Jinju, South Korea, September 26, 2019 – RFHIC Corporation (KOSDAQ:218410), a global leader in designing and manufacturing GaN RF & Microwave components for communications and defense applications.

DTAQ (Defense agency for Technology And Quality) HQ located in Kyeongnam Jinju held a ceremony for weapon system re-modeling business support agreement with 29 companies on the 25th of September. The weapon system re-modeling development is to reinforce R&D investments and strengthening the capabilities to export weapon systems.

Last year`s DTAQ funds were roughly $1.74M which have been aggressively increased to $17.40M for companies to secure oversea export competitiveness. With the current agreement, companies who have entered into this agreement will be subsidies with 75% of the whole business expense $8.70M for 3 years (mid-sized companies-60%, large-sized companies-50%). DTAQ gave SMEs and venture companies priority in their selection process to encourage more participation.

Also, DTAQ signed a “Global defense nurturing business agreement” with one of the companies. This agreement agrees to select high potential small medium-sized companies to grow competitively on a more global scale by providing material, components, equipment, test results, consulting, marketing and support in other needed services.

The fund amount for this year is appx. $2.26M (mid-sized company -60% large-sized company -50%) select companies can receive up to $1.83M in funding for up to 3 years.

“This agreement and financial support will greatly contribute to the potential boost for small and medium-sized enterprises within South Korea. This will allow the concentration of defense exports largely held by big corporations to shift more towards small to medium size companies,” stated Han Seung Jae, Director of DTAQ.

Reporter Kim Sung Jin, ksj87@newsis.com
Copyright © NEWSIS, No unauthorized re-deployment

 

About RFHIC
RFHIC Corporation provides innovative GaN solutions that transform how the world operates, communicates, and protects. Our cutting edge GaN technology is the core foundation of all our inventions for creating a better, faster, and more efficient world. As a global leader in designing and manufacturing GaN RF & Microwave components, we envision spurring a new era of high-powered and reliable devices for the next big change in industrial, cellular, and defense technology. Headquartered in Anyang, South Korea.  RFHIC has a US sales office in Morrisville, North Carolina, and sales distributors throughout North America, Europe, and Asia.  RFHIC is an ISO9001 (International quality standard) and ISO14001 (Environmental management standard) certified company, providing reliable and dependable products worldwide.

Media Contacts:
Grace Cho
Grace.cho@rfhic.com