Korea to invest $121 billion in chip, display, battery sectors by 2027

[Photo by MK DB]

South Korea will facilitate state and private sector investments totaling 160 trillion won ($121 billion) in research and development of three key technology sectors - semiconductors, displays and next-generation batteries - by 2027, the Ministry of Science and ICT said Thursday.

Under the plan released during a government meeting, the funding jointly created by the government and the private sector will be used to encourage local companies and research centers secure advanced technologies and create new markets in the three sectors. A total of 100 technologies, including semiconductor devices, high-resolution displays and hydrogen fuel cells, will be given priority for the funding.

The plan is part of the “New Growth 4.0 Strategy,” which was announced in February.

The ministry said that these three sectors are critical areas for investment and cooperation between the government and private entities, and that this initiative was designed to help secure South Korea’s competitiveness in these markets.

The government plans to funnel 156 trillion won in private investment over the next five years to support the development of these technologies, which are crucial for the country’s economic growth and market expansion.

A task force team for each of these sectors, consisting of experts from academia and industry, has been operating since last year to develop the plan, according to the ministry.

[Image source: Gettyimagesbank]

In the semiconductor sector, 45 core technologies were selected for concentrated support, based on the semiconductor future technology roadmap created in collaboration with private experts.

In the area of next-generation devices, the plan is to develop strong dielectric, magnetic and memristor material technologies that can produce high-speed and high-density at low power, and that are compatible with the existing CMOS process.

For system semiconductors, 24 technologies will be developed, including artificially intelligent semiconductors capable of ultra-parallel processing, 6G semiconductors, vehicle semiconductors and power semiconductors.

The plan also includes support for 11 technologies related to the pre-processing and packaging necessary for sub-3-nanometer microfabrication.

In the display sector, the funding will support the R&D of 28 core technologies that can enhance OLED and other advanced technologies.

In the next-generation battery sector, 27 core technologies will be developed for three types of batteries: secondary batteries, hydrogen fuel cells and isotopic batteries.

For lithium-ion batteries, 14 technologies will be developed to overcome battery challenges such as fire vulnerability and high material costs.