[Advanced Industry Promotion] Aiming to Regain World No.1 in Display... 62 Trillion Won Investment by 2026

Fostering Three Key Areas: Transparent, XR, and Automotive
Investing 95 Trillion KRW in Future Cars and 39 Trillion KRW in Bio Sectors

The government has decided to invest 62 trillion won by 2026 to promote demonstration and pilot projects in three promising display sectors: transparent, extended reality (XR), and automotive displays. This move comes in response to industry messages warning that China could overtake Korea in the OLED market following LCD. The state will take the lead in conducting display pilot projects. The plan is to maintain a 'super-gap' technological position in the Ex-OLED era by applying OLED panels not only to existing TVs but also to various devices.

President Yoon Suk-yeol is speaking at the 14th Emergency Economic and Livelihood Meeting held at the Blue House State Guesthouse on the 15th. [Image source=Yonhap News]

According to the six advanced industry development strategies and six major tasks announced by the government at the '14th Emergency Economic and Livelihood Meeting' held on the 15th, 62 trillion won will be invested in the display sector by 2026. Additionally, the display sector will be designated as a national strategic technology under the Restriction of Special Taxation Act. Policy financing of 900 billion won will be provided for new panel facility investments and equipment manufacturing funds. To outpace China's pursuit, the focus is on supporting next-generation display technologies. Demonstration and pilot projects will be promoted for transparent OLED used in subway screen doors, XR for logistics warehouses, and automotive displays for tourist buses. Innovation funds for existing OLED technology will receive 420 billion won, and 950 billion won will be allocated for research and development (R&D) of next-generation inorganic light-emitting displays.

Another notable point is the plan to train 9,000 technical personnel by 2032. This is the first time specific annual targets for workforce training have been presented. Previously, only a pilot project for specialized graduate schools was planned until next year. Of the specialized personnel, 7,000 will be trained through corporate-university linked contract departments, and 2,000 field workers will be trained at specialized education centers.

Alongside displays, secondary batteries, bio, future cars, and robots will also be fostered as advanced industries. First, the secondary battery sector aims to become the world’s number one by 2030. The main competitor is China. A total of 39 trillion won will be invested over five years until 2026. By 2025, domestic secondary battery production capacity is planned to exceed 60 GWh, which is 1.5 times the scale of 2021. This year, 5.3 trillion won in policy financing will be injected through long-term, low-interest loans and guarantees. At the same time, a 200 billion won private fund will be established to nurture small and strong companies. To secure key minerals stably, a global mineral supply map will be developed.

In the bio sector, 13 trillion won will be invested by 2026. The goal is to achieve the world’s number one manufacturing capability for biopharmaceuticals. To expand manufacturing capacity, close support for private investment will be provided. Utilizing large-scale practical training facilities such as the Korean version of NIBRT (K-NIBRT), more than 2,000 customized personnel to meet field demand will be trained annually.

Ten types of digital healthcare services targeting one million people will be developed, and bio big data will be constructed. The plan is to create a new healthcare market by designing a nationwide health management project. Support will also be provided for the development of carbon regulation-compliant bioplastics and fuel commercialization technologies.

The goal to become one of the world’s top three future car nations was also presented. A total of 95 trillion won will be invested by 2026. The production scale of electric vehicles will be increased fivefold. Sites will be secured through consultations with local governments and changes in land use plans. More than 2 trillion won will be invested by 2027 to secure core technologies such as sensors and secondary batteries. By 2030, 30,000 future car convergence personnel, including software (SW) experts, will be trained. This year, a Future Car Transition Special Act will be enacted to accelerate the transition of the parts industry to future cars.

For the robot sector, 1.7 trillion won will be invested by 2026. The goal is to join the ranks of the world’s leading advanced robot manufacturing countries. Independent technologies for five core components?reducers, servomotors, grippers, sensors, and controllers?will be secured. Additionally, 51 key regulations across four major fields will be identified, and 39 tasks will be improved by 2024. The plan includes improving regulations and promoting large-scale demonstration projects to create a robot-friendly environment.