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Industry
Ministries and companies discuss pending chip issues at presidential office
Trade, Industry and Energy Minister Dukgeun Ahn attended a meeting chaired by President Yoon Suk Yeol on April 9 at the Office of the President in Yongsan, Seoul, held for discussions on global chip supply chain risk factors in view of the recent earthquake in Taiwan, and for President Yoon to first-handedly assess the measures for the swift establishment of semiconductor mega clusters. Attending the meeting were representatives of relevant ministries and companies, including the Ministry of Economy and Finance (MOEF), Ministry of Science and ICT (MSIT), Ministry of Land, Infrastructure and Transport (MOLIT), Ministry of Environment (ME), Samsung Electronics, SK Hynix, SAPEON Korea, and Naver. Attendees discussed measures for securing the semiconductor technology super gap in the global race on AI chips, and the future direction for Korea in pushing the AI chip initiative. Regarding the Taiwan earthquake and global supply chain risk factors, the meeting concluded that impact on Korean companies is limited at present, but efforts will continue to be made to monitor the supply chain situation with related industries and associations to handle uncertainties. Discussions also covered the following measures for a swift establishment of the semiconductor mega clusters. First, the Government plans to back the establishment of infrastructure and accelerate corporate investment, raising the state funding rate from the previous 5-30 percent to 15-30 percent. For the Yongin System Semiconductor Cluster, in which Samsung Electronics plans to invest 360 trillion won by 2047, the site renovation period is to be substantially shortened by utilizing the preliminary consultation system for environmental impact evaluation and through prompt land compensation. The Government will also push for stronger investment incentives by extending the national strategic technology investment tax credit incentive due to sunset at the end of this year, which currently grants a 25 percent maximum tax credit. The second aim is to nurture professional talent and create a better working environment. This will entail a further designation of chip-focused specialization universities (10) and graduate schools (3), as well as the establishment of new cities and public housing around the semiconductor industrial clusters and laying of a “chip highway” connecting the clusters in Hwaseong, Yongin and Anseong. Plans also include rolling out a global talent package for attracting overseas talents into Korea by supporting their immigration and housing. Third, support will go towards the early establishment of a mass-production demonstration testbed (Yongin Semiconductor Cluster mini fab) for facilitating cooperation between chip MPE (materials, parts, equipment) firms and chip manufacturers, and towards the production of ultra fine process prototypes. The chip performance testing and inspection service is to be initiated starting this year with the establishment of the inspection support center. In this AI era, there still exists sustainability issues owing to performance and energy costs, and the outlook is that the future of AI competitiveness will center on AI chips and hardware innovation, as well as the organic collaboration among AI models. In this regard, Korea will be launching the AI Chip Initiative based on the following nine technological innovations: next-generation general-purpose AI (AGI); lightweight and low-power AI; AI safety technology development; processing in memory (PIM); low-power K-AP; new device & advanced packaging; AI supercomputing; on-device AI; and next-generation open AI architecture software. MOTIE and MSIT will be holding review sessions on a regular basis and share collaboration cases and outcomes with related institutions to minimize d date2024-04-09
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Industry
Minister Ahn holds Global Open Innovation Strategy Conference
Trade, Industry and Energy Minister Dukgeun Ahn held the Global Open Innovation Strategy Conference on April 5 at Josun Palace and announced the preferred bidders for the Global Industrial Technology Cooperation Center project, as well as future plans. The conference was attended by representatives of relevant institutions, including Korea Institute for Industrial Economics & Trade (KIET) and National Academy of Engineering of Korea (NAEK). date2024-04-05
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Industry
Minister Ahn attends interministerial meeting on MPE competitiveness
Trade, Industry and Energy Minister Dukgeun Ahn attended the interministerial meeting on April 3, chaired by the Economy and Finance Minister, at the Government Complex Seoul for the deliberation and resolution on major agenda items concerning the materials, parts, and equipment (MPE) specialization complexes. The meeting was attended by representatives of relevant ministries and institutions, including the Ministry of Science and ICT (MSIT) and the Korea International Trade Association (KITA). date2024-04-05
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Industry
Minister Ahn holds Technology Financing Investment Promotion Strategy Meeting
Trade, Industry and Energy Minister Dukgeun Ahn attended the Technology Financing Investment Promotion Strategy Meeting on April 4 at Lotte Hotel Seoul and announced private-led technology financing promotion measures on providing KRW 16.6 trillion to SMEs and middle-market firms with innovative technologies over the next five years (2024-2028). On the margins of the meeting, the 13 banks that will be executing the newly launched R&D loan participated in the ceremony for the industrial technology innovation fund memorandum of understanding (MOU). Attending the event were representatives of relevant firms, financial institutions, and ministries, including Korea Evaluation Institute of Industrial Technology (KEIT) and Korea Institute of Advancement for Technology (KIAT). date2024-04-05
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Industry
Six global institutions selected for Global Industrial Technology Cooperation Center project
Trade, Industry and Energy Minister Dukgeun Ahn held the Global Open Innovation Strategy Conference on April 5 at Josun Palace and announced the preferred bidders for the Global Industrial Technology Cooperation Center project. The Global Industrial Technology Cooperation Center is to be a platform for international joint R&D projects, partner matching, and technology collaboration, for which 30 universities and research institutes around the world applied. Paper and presentation evaluation rounds narrowed the applicants down to six overseas institutions, namely Massachusetts Institute of Technology (MIT), Yale University, Purdue University, Johns Hopkins University, Fraunhofer, and Georgia Institute of Technology. The Ministry of Trade, Industry and Energy plans to launch around 45 joint global R&D projects this year with aim to secure 100 next-generation foundational technologies by 2028. date2024-04-05
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Industry
MOTIE to support innovative SMEs with KRW 16.6 tln technology financing by 2028
Trade, Industry and Energy Minister Dukgeun Ahn attended the Technology Financing Investment Promotion Strategy Meeting on April 4 at Lotte Hotel Seoul and announced private-led technology financing promotion measures on providing KRW 16.6 trillion to SMEs and middle-market firms with innovative technologies over the next five years (2024-2028). A total of 3.4 trillion won is to be funded in 2024 alone. First of all, a 2.4 trillion won public-private corporate venture capital (CVC) fund will be formed in 2024 for investment in innovative startups, whereas large corporations will be supported in their business, marketing, and innovative infrastructure establishment to expedite open innovation. Second, the industrial technology innovation fund in 2024 will pour 400 billion won into defense, AI-based autonomous manufacturing, carbon-free energy, and other advanced industries, while also strengthening support for regions and middle-market companies short of private venture investment. As for the unprecedented 36 billion won high-tech civil-military cooperative fund, defense companies attending the meeting vowed support for nurturing innovative defense firms via means of additional investment, company scouting, and commercialization assistance. Third, MOTIE will create a 540 billion won low-interest R&D loan to assist companies’ technology commercialization and join hands with the SMEs and Startups Ministry (MSS) to initiate a special exemption guarantee that offers fees reduced by 0.5 percentage points to mitigate burden on companies. Furthermore, a 170 billion R&D fund will be supplied in 2024 in line with venture capital investment. On the margins of the meeting, the 13 banks that will be executing the newly launched R&D loan participated in the ceremony for the industrial technology innovation fund memorandum of understanding (MOU). In addition to POSCO Capital, SGC Partners and Ascendo Ventures were also selected to jointly manage the CVC fund, and the three companies entered an MOU on this account. Also attending the event was Ely Razin, Chief Strategic Investments Officer at Israeli investment platform OurCrowd, who expressed commitment to injecting over 40 billion won worth of foreign capital into Korea’s technology innovation fund. OurCrowd was selected as one of the technology innovation fund managers in 2023. date2024-04-05
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Industry
Vice Minister chairs meeting with petrochemicals industry leaders
Trade, Industry and Energy Vice Minister Kang Kyungsung chaired a meeting on April 3 in Seoul with petrochemicals industry leaders to discuss present challenges in export and investment. The meeting was attended by representatives of Kumho Petrochemical, SK Geocentric, LG Chem, and Lotte Chemical. date2024-04-04
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Industry
Vice Minister discusses measures to counter challenges for petrochemicals industry
Trade, Industry and Energy Vice Minister Kang Kyungsung chaired a meeting on April 3 with petrochemicals industry leaders to discuss countermeasures to the current crises caused by declining profitability from global oversupply, high oil prices, among several international factors. At the meeting, the Ministry of Trade, Industry and Energy (MOTIE) gathered opinions and suggestions from industry leaders on issues on export and investment conditions. Attendees agreed that the current petrochemicals industry is up against a multi-crisis, and that businesses must dramatically shift their structures’ focus from general-purpose products to high value-added, eco-friendly, and fine chemicals items. Noting that the petrochemicals industry is closely intertwined with semiconductors and secondary batteries and other major industries, Vice Minister Kang asked that the Government and industry players join hands to overcome the present challenge, for which the ministry will consult with tax authorities on further extending the exemption from customs duties on naphthalene, and also provide stronger support for the Shaheen Project and other large-scale projects through launching a task force for supporting their on-time completion. date2024-04-04
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Industry
Government to nurture MPE specialization complexes into key bases for supply chain and super gap
Trade, Industry and Energy Minister Dukgeun Ahn attended the interministerial meeting on April 3, chaired by the Economy and Finance Minister, at the Government Complex Seoul for the deliberation and resolution on major agenda items concerning the materials, parts, and equipment (MPE) specialization complexes. The meeting was attended by representatives of relevant ministries and institutions, including the Ministry of Science and ICT (MSIT), Ministry of Environment (ME), Ministry of SMEs and Startups (MSS), Ministry of Employment and Labor (MOEL), National Intelligence Service, Financial Services Commission, and the Office for Government Policy Coordination. First, attendees carried out the deliberation and resolution process on measures for catered support towards MPE specialization complexes. For the Chungbuk Bio Specialization Complex, the Korean government plans to provide R&D support for joint technology development of bio MPE buyer and supplier companies, and give support for analysis of accredited tests on global standards, such as those by the U.S. Food and Drug Administration (FDA) and the EU’s European Medicines Agency (EMA). As for the Daegu Motor Specialization Complex, the Government will establish a rare earth elements permanent magnet circular production system for electric vehicles (EVs) and a motor performance certification support center. Inside the Gwangju Autonomous Vehicle Specialization Complex, an integrated recognition, control, and communications control system for self-driving cars will be developed, along with equipment for international certification utilizing a driving simulator. The Busan Power Semiconductor Specialization Complex will see the construction of an eight-inch silicon carbide (SiC) power semiconductor manufacturing and packaging center, while pushing the development of 1,700V high-voltage device technology. The Anseong Semiconductor Equipment Specialization Complex will focus on developing chemical mechanical polishing (CMP) equipment for semiconductor planarization. The Government will also provide tailored support for talent training and regulatory improvement for each complex. The Anseong Complex will have a semiconductor equipment demonstration center built inside its Polytech University, and the Daegu Complex will have a mobility-focused university established. The Gwangju Complex will push for designating an autonomous driving test operation zone, while the Osong Complex will provide licensing consultation from the R&D stage and onwards through a joint support group run by tenant businesses and regulatory institutions. Over a period of five years, the Government intends to pour a total of 506.7 billion won into R&D for MPE specialization complexes to back the 6.7 trillion corporate investment. Attendees decided to increase the number of MPE core strategic technologies to 200 from the previous 150 by a further designation of 40 technologies and creation of three areas (aerospace, defense, hydrogen) in addition to the existing seven areas, including semiconductors, displays, and bio. Moreover, they increased the number of bio MPE technologies to 19 through an additional designation of technologies on active pharmaceutical ingredients (API), functional material, and process machinery for high-speed, mass production in tandem with MSIT and Defense Acquisition Program Administration (DAPA). Attendees carried out the deliberation and resolution of cooperation- and mutual growth-based joint projects for MPE firms, into which approximately 100 billion won is to be funded over the next five years. Global joint projects were approved this year for the first time between overseas buyers and Korean MPE firms; one on communications and security system chip cooperation with a German company, and another on cooperation with a U.S. firm on biodegradable synthetic fibers. date2024-04-04
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Industry
Korea Smart Grid Expo 2024
Trade, Industry and Energy Vice Minister Namho Choe attended the Korea Smart Grid Expo (KSGE) 2024, held through April 3-5 at COEX in Seoul, where visitors can check out the latest technologies and products in the smart grid and power industries. With this year marking the Expo's 14th anniversary, KSGE 2024 showcases three special booths focusing on energy storage systems (ESSs), distributed energy, and EV charging infrastructure. date2024-04-03