400 Billion KRW Sales Achievement in the Support Project for Performance Improvement of Substrate and Material Supply Companies

Korea Display Industry Association Conducts Mass Production Performance Evaluation Support Project for SoBuJang

[Asia Economy Reporter Kim Pyeonghwa] On the 29th, the Korea Display Industry Association announced that the ‘2021 Display Materials, Parts, and Equipment Mass Production Performance Evaluation Support Project,’ supported by the Ministry of Trade, Industry and Energy, generated over 40 billion KRW in direct and indirect sales within one year.

The Materials, Parts, and Equipment (SoBuJang) Mass Production Performance Evaluation Support Project aims to verify and evaluate the performance and mass production feasibility of SoBuJang companies’ products such as panels on the production lines of demand companies, supporting both SoBuJang and demand companies to improve performance together. This project, initiated by the Ministry of Trade, Industry and Energy since 2020, seeks to stabilize the supply of SoBuJang products that are highly dependent on imports, achieve technological independence in core technologies, and strengthen the ecosystem between demand and supply companies. The same project is also operated in five major sectors including semiconductors, automobiles, and electronic and electrical industries besides displays.

In the display sector, reflecting the demands of demand and supply companies, a total of eight items were selected this year. Since July, a total support of 2.8 billion KRW has been provided. The Korea Display Industry Association has acted as a liaison between demand and supply companies, supporting 15 companies and 16 items this year to complete basic and mass production performance evaluation verification. Performance evaluation certificates in the name of the association for seven demand companies including LG Display, Samsung Display, and Korea ALBAK are scheduled to be issued next month.

Lee Dong-wook, Executive Vice President of the Korea Display Industry Association, said, “We will continue to actively propose the necessity of this project to the government and enhance the technological competitiveness and localization rate of SoBuJang companies through strategic item support. We will do our best to activate exchanges between demand and supply companies so that commercialization results can spread.”