According to Yonhap News Agency, the Seoul Metropolitan Government and the Seoul Industrial Development Agency said that in order to help small and medium-sized enterprises, venture capital companies and startups in Seoul adapt to the new economic order and industrial structure changes in the post-epidemic era, they decided to provide an additional 5.67 billion won in the second half of the year. (Approximately US$4.771 million) research and development (R&D) funds. The plan is aimed at technological development in the fields of biomedicine, AI, high-tech, and blockchain. Each project is expected to provide 60 to 300 million won in funding. According to the chain’s note, in March this year, the Seoul Metropolitan Government announced an R&D investment plan of 41.5 billion won, and plans to select 180 projects from the 1,110 projects received for funding.