Trade, Industry and Energy Minister Lee Chang-yang held the Display Industry Innovation Strategy Roundtable on May 18 at the Courtyard by Marriott Seoul Namdaemun and led discussions on Korea’s display industry development and strategy directions.

Amid intensifying competition in the global display market, public and private sectors are joining hands for Korea to reclaim the world’s no. 1 display powerhouse position by securing super gap technology. The private sector aims to invest at least KRW 65 trillion into the domestic display industry over the next five years, while the Government will expand tax credit, designate a specialized complex, deregulate and inject 1 trillion won into R&D.

Minister Lee emphasized that “the Display Industry Innovation Strategy announced today is significant in that it is the outcome of deliberation and a first step taken by the Government and the private sector to reclaim the top spot in the global display market,” stating that “gaining 50 percent of the world’s total market share, outpacing competitors in technology by at least five years, achieving over 80 percent independence in materials, parts and equipment, and training up 9,000 professional workers,” are some of the goals that the Government and firms must by all means realize through concerted efforts.

Moreover, he congratulated the launching of the iLED (Inorganic light-emitting display) Industry Development Alliance and asked that the Alliance play a central role in drawing the industry, academia and R&D together to secure the next-generation iLED display technology and in establishing the relevant ecosystem.