According to Yonhap News,

(SEOUL=Yonhap News) The Ministry of Trade, Industry & Energy (MOTIE) announced February 16 its plan to develop leading technologies for future industries by investing a total of KRW 94 billion (USD 84.6 million) – KRW 13.5 billion being invested in 2015 – for seven years in four projects: the advanced materials processing system, virtual training system, tailored health care system and smart bio production system.

The new tasks were announced on the websites of MOTIE (www.motie.go.kr) and the Korea Evaluation Institute of Industrial Technology (www.keit.re.kr) last month.

For the advanced materials processing system, the ministry will invest KRW 29 billion (KRW 4.5 billion in 2015) for five years in the development of automobile parts and carbon fiber–reinforced polymer processing systems.

For the virtual training system, the ministry will invest KRW 28 billion (KRW 3 billion in 2015) for seven years in the development of virtual training and sports training systems for the heavy equipment training of multi-functional construction machines.

For the smart bio production system, the ministry will invest KRW 28 billion (KRW 3 billion in 2015) for seven years in the development of a cell culture system to produce cell therapy.

The ministry will also invest KRW 9 billion (KRW 3 billion in 2015) for three years in the development of a tailored health care system based on personal health records.

Apart from the four projects, the ministry will also expand support for the six projects, including wearable smart devices and self-driving vehicles, which are under preliminary feasibility study.

The ministry has implemented 13 industrial engine projects: Five in the system industry, three in the parts and materials industry, three in the creative industry and two in the energy industry in December of 2013. It launched a task force team last April.

abullapia@yna.co.kr

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