In the era of the Fourth Industrial Revolution, where manufacturing contributes to 30% of the GDP, innovation in the manufacturing sector is essential for improving companies' competitiveness. This is particularly crucial in countries like South Korea, where over 90% of the manufacturing industry is comprised of small and medium-sized enterprises (SMEs). Smart factory implementation is no longer a choice but a necessity to achieve enhanced competitiveness in the Korean industrial landscape. Operating smart factories in the manufacturing sector can revolutionize the overall production system through advanced technologies, significantly improving companies' competitiveness. This research aims to analyze real cases of smart factory implementation in SMEs to study the outcomes of government support programs. By considering the financial, technological, and internal capabilities of SMEs, it is essential to assess the effectiveness of the support programs and evaluate the level of implementation achieved. Understanding the definition of smart factories and the different levels of government support programs (Levels 1-5) is crucial in this study, along with analyzing practical cases of support program utilization. The research seeks to draw conclusions and propose future directions for smart factory support programs based on the findings from the analysis.