S. Korea to invest US$ 4.1 billion over 3 years for steady supply of local parts, materials, equipment
- 5 years ago
정부, 소재•부품•장비 R&D에 2022년까지 5조 투입
There's hope that the difficult times Korea's going through in terms of trade will lead to positive change.
The government has laid out plans to try and stablize supplies for Korean industry, which will include support to help companies innovate.
Kim Min-ji reports.
South Korea will invest more than four billion U.S. dollars over three years starting 2020,... in the local parts, materials and equipment sectors.
Announced Wednesday,... the latest plan is aimed at boosting the competitiveness of those industries,... while at the same time stabilizing supply channels,... as the country seeks to reduce its dependency on Japan for key materials.
"We will foster our parts, materials and equipment industries regardless of Japan's actions. We will be investing over four billion dollars for R&D alone over the next three years. We will also step up studies required to foster an R&D ecosystem and maximize achievements. Through these efforts, we will most certainly reduce dependence on specific countries in all sectors."
The government plans to complete its selection of 100 key strategic items that are heavily reliant on Japan or need to develop home-grown technology for R&D projects by the end of this year.
They will receive customized support according to their level of technology and the potential for finding alternative sources of imports.
In addition, the government will swiftly implement R&D projects worth over 1-point-5 billion dollars that have been waived of government preliminary feasibility tests.
The government will also create a special committee to oversee R&D activities and policies.
"It has become an opportunity to recognize the importance of boosting the localization of key parts, materials and equipment within the global supply chain."
While the government said there has been no direct damage as of yet,... it vowed to keep close tabs on the impact that Japan's trade retaliation has on local industries and draw up further measures accordingly.
Kim Min-ji, Arirang News.
There's hope that the difficult times Korea's going through in terms of trade will lead to positive change.
The government has laid out plans to try and stablize supplies for Korean industry, which will include support to help companies innovate.
Kim Min-ji reports.
South Korea will invest more than four billion U.S. dollars over three years starting 2020,... in the local parts, materials and equipment sectors.
Announced Wednesday,... the latest plan is aimed at boosting the competitiveness of those industries,... while at the same time stabilizing supply channels,... as the country seeks to reduce its dependency on Japan for key materials.
"We will foster our parts, materials and equipment industries regardless of Japan's actions. We will be investing over four billion dollars for R&D alone over the next three years. We will also step up studies required to foster an R&D ecosystem and maximize achievements. Through these efforts, we will most certainly reduce dependence on specific countries in all sectors."
The government plans to complete its selection of 100 key strategic items that are heavily reliant on Japan or need to develop home-grown technology for R&D projects by the end of this year.
They will receive customized support according to their level of technology and the potential for finding alternative sources of imports.
In addition, the government will swiftly implement R&D projects worth over 1-point-5 billion dollars that have been waived of government preliminary feasibility tests.
The government will also create a special committee to oversee R&D activities and policies.
"It has become an opportunity to recognize the importance of boosting the localization of key parts, materials and equipment within the global supply chain."
While the government said there has been no direct damage as of yet,... it vowed to keep close tabs on the impact that Japan's trade retaliation has on local industries and draw up further measures accordingly.
Kim Min-ji, Arirang News.