According to Yonhap News,

(SEOUL=Yonhap News) Up to KRW 2.6 trillion will be invested in fostering 5 industrial complexes specialized in materials, parts, and equipment including semiconductors and secondary battery.

A promotion committee in charge of creating cooperative ecosystem of the specialized industrial complex was also launched officially.

The Ministry of Trade, Industry, and Energy (MOTIE) held a ceremony to launch a 'Promotion Committee for Specialized Industrial Complex in materials, parts, and equipment' at Four Seasons Hotel, Jongno-gu, Seoul on October 27.

The parts, materials, and equipment specialized clusters are to integrate value chains encompassing parts, materials, and finished products of key industries.

The complex was planned to respond to reorganization of global supply chain and enhance industrial competitiveness globally by creating solidarity and cooperative ecosystem between industry, academia, and research sectors including anchor companies, small and medium sized materials, parts, and equipment companies, research institutes, and universities.

Five specialized industrial complexes have been designated to date, including Semiconductor (Yongin, Gyeonggi), Secondary battery (Cheongju in Chungbuk), Display (Cheonan·Asan in Chungnam), Carbon materials (Jeonju in Jeonbuk), and Precision machinery (Changwon in Gyeongnam).

The Promotion Committee launched this day consists of 43 key institutions from industry, academia, and research fields, including TechnoPark (TP), public research centers, local universities, and associations and organizations.

The participating institutions plan to sign a MOU for mutual cooperation, and go ahead with discovering demand for cooperation, planning new businesses, and supporting networking initiatives.

By complex, representative institutions are as follows: Advanced Institute of Convergence Technology (semiconductor), Chungbuk TP (secondary battery), Chungnam TP (display), Korea Carbon Industry Promotion Agency (carbon materials), and Gyeongnam TP (precision machinery).

Five specialized complexes will receive investment up to KRW 2.6 trillion including a mutual cooperation plan of KRW 1.4 trillion by anchor companies, and support projects-related plans for R&D, establishing testbeds and nurturing professional manpower by central and local governments.

By complex, anchor companies are Semiconductor-SK Hynix; Secondary Battery-LG Energy Solution; Display-Samsung Display; Carbon materials-Hyosung Advanced Materials; and Precision machinery-Doosan Machine Tools, Hwacheon.

The government plans to analyze supply chain by complex, select items to make up for weak value chain, and support development. It will also build new testbeds to test and evaluate products by area.

By complex, the semiconductor complex is to speed up the establishment of semiconductor cluster currently underway, with an aim to realize '2030 global super-gap semiconductor powerhouse'.

The secondary battery complex set the goal of becoming the global No.1 in 4 core materials, and push for establishment of testbeds to develop and evaluate performance of key materials such as Electrolyte and binder.

The display complex is to intensively support investment attraction of Asan Smart Valley to complete next-generation display value chain including QD-OLED.

The carbon Materials complex is to establish a carbon fiber incubation hub that supports creation of demand and intermediate goods industry, while the precision machinery complex is to focus on development of processing equipment connecting ultra-precision and AI.

Vice Minister Park Jin-kyu of MOTIE said, "we have to build an industrial ecosystem not swayed by external risk factors as anxiety factors are permanent such as response to climate change, conflict between US and China, and spread of infectious diseases," asking the Promotion Committee to "play a key role".

bryoon@yna.co.kr

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Source: Yonhap News (October 27, 2021)