Industrial Safety Committee Holds General Meeting
Research Achievements of Government-Funded Institutes
Opened to Future Automobile Parts Companies
Support legislation for future automobile parts industries, such as autonomous vehicles and eco-friendly cars, passed the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee on the 22nd. Companies in the future automobile parts industry will be able to receive government support ranging from research funding to financial assistance.
The Industry Committee held a plenary session that day and passed the bill titled "Special Act on the Promotion of Transition and Ecosystem Development of the Future Automobile Parts Industry." This bill is a reviewed and adjusted version of proposals submitted by independent lawmaker Yang Hyang-ja, Democratic Party lawmaker Kang Byung-won, independent lawmaker Yoon Kwan-seok, and People Power Party lawmaker Han Mu-kyung. It aims to support the overall transition of the automobile industry ecosystem to the future automobile industry by enhancing the competitiveness of parts industries related to future automobiles and stabilizing supply chains.
The future automobiles defined in this law include "environmentally friendly vehicles" under the Eco-friendly Vehicle Act and "future automobile technology applied vehicles" as specified by the Ministry of Trade, Industry and Energy's ordinances. The supported industries cover everything from parts to software development and related services.
On the 5th of last month, a full meeting of the Industry, Trade, Energy, Small and Medium Business Committee was held at the National Assembly. Photo by Hyunmin Kim kimhyun81@
The bill also includes provisions to promote demonstration of future automobile parts by opening facilities held by national and public research institutions to future automobile parts companies. Accordingly, intellectual property and technology owned by government-funded research institutes, specialized production technology research institutes, and universities possessing research outcomes in the future automobile parts field through national research and development projects can be transferred, shared, and utilized.
When transitioning to the future automobile parts industry, companies can receive financial support. In particular, small and medium-sized enterprises and mid-sized companies can receive support ranging from consulting to research and development, financial assistance, and technology commercialization support.
Additionally, the Minister of Trade, Industry and Energy is required to establish a basic plan to revitalize the future automobile parts industry ecosystem and to set up strategic meetings to deliberate and coordinate important matters for the activation of the ecosystem.
The Industry Committee stipulated that the enforcement date of this law will be six months after its promulgation to enable the domestic automobile parts industry to swiftly transition to the future automobile parts industry.
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