Gyeongnam Province, Final Report Meeting on New Business Research Planning for Materials and Components Industry.
[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do is investing 194.8 billion KRW to focus on new business initiatives aimed at domesticating materials and components technology and enhancing manufacturing competitiveness.
On the 6th, Gyeongnam Province held a final report meeting on new business research planning for the materials and components industry and announced the selection of four new business projects.
The report meeting was attended by Governor Kim Kyung-soo, Lee Jeong-hwan, Director of the Korea Institute of Materials Science, and about 20 industry-academia-research officials from Gyeongnam Technopark, Gyeongsang National University, Changwon National University, Doosan Heavy Industries & Construction, Korea Aerospace Industries, and SeAH Changwon Specialty Steel.
Gyeongnam Province has been promoting new business research planning, recognizing the urgent need to domesticize materials and components technology and enhance the competitiveness of key manufacturing industries in response to changes in the industrial environment such as Japan's export regulations, the COVID-19 pandemic, and the climate crisis.
The newly planned projects include the establishment of a self-reliance platform for lightweight metal parts for future automobiles, a self-reliance platform for materials and components in extreme temperature environments, an upcycling platform for titanium materials and components for strategic industries, and a manufacturing and testing evaluation platform for aerospace materials and components.
First, the project to establish a self-reliance platform for lightweight metal parts for future automobiles will invest 22.5 billion KRW over four years.
A lightweight metal automotive parts manufacturing demonstration center will be established to promote related demonstration projects and foster a technological innovation ecosystem. Lightweighting is crucial for hydrogen vehicles and electric vehicles, making demonstration of lightweight metal parts essential in preparation.
The project to establish a self-reliance platform for materials and components in extreme temperature environments will invest 95 billion KRW over five years. It will build an advanced extreme materials and components manufacturing demonstration center and a collaboration platform for companies dealing with extreme materials and components. The goal is to revitalize Gyeongnam's core industries and create new industries.
The upcycling platform project for titanium materials and components for strategic industries will invest 49 billion KRW over five years to create a support system for upcycling titanium materials and components throughout the entire cycle from raw titanium materials to final products.
The aerospace solid standby materials and components manufacturing and testing evaluation platform project aims to overcome the problem of a 0% domestic production rate of aerospace materials. It will invest 28.3 billion KRW over five years to build infrastructure necessary for manufacturing and testing aerospace solid standby materials and components and develop related technologies.
Gyeongnam Province plans to promote these new business projects as government public projects this year in consultation with relevant ministries and strive to have them reflected in next year’s national budget.
Governor Kim Kyung-soo stated, “It is necessary to actively promote regional industrial policies, including linking specialized materials and equipment complexes with defense industry clusters,” and urged, “When advancing new business projects, please actively consult with companies and universities to nurture related talent.”
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