Seoul, Jul 11 (IANS): Samsung Electronics will allow smaller companies to use more of its royalty-free technologies to achieve shared growth, the industry ministry of South Korea said on Tuesday.

The South Korean tech giant will transfer 123 kinds of its patent technologies in various sectors, including semiconductors, displays and mobile gadgets, to 86 smaller firms without receiving royalties, according to the Ministry of Trade, Industry and Energy.

The government launched the tech-sharing programme in 2013, and 33 conglomerates and state-run companies have since shared 2,979 patents with 1,416 smaller companies, reports Yonhap news agency.

Samsung joined the programme in 2015 and has shared 1,082 patents with 588 firms, the ministry said.

Samsung also signed a memorandum of understanding with the industry ministry and the Korea Institute for Advancement of Technology that calls for building a win-win industry ecosystem through technology sharing.

"This programme has and will serve as a good chance for smaller companies to upgrade their tech competitiveness," senior ministry official Hwang Soo-seong said.