Korea's Focus: Advancing Semiconductor and Display Tech

According to Yonhap News Agency, the South Korean government released a national strategic technology cultivation plan on October 28, designating technologies such as semiconductors, displays, and secondary batteries as "12 major national strategic technologies."

The Ministry of Science and ICT, convened under the leadership of President Yoon Seok-yeol during the National Science and Technology Consultation Meeting, revealed the comprehensive plan. Considering factors such as global industrial competitiveness, influence on emerging industries, diplomatic and security values, and the likelihood of success, the Ministry selected 12 strategic technologies. These encompass semiconductors and displays, secondary batteries, high-tech transportation, next-generation nuclear energy, high-tech biology, space and ocean exploration, hydrogen energy, network security, artificial intelligence, next-generation communication, high-tech robotics and their manufacturing technologies, and quantum technology.

To propel industry advancement, the government has pledged to increase research and development investments in the corresponding technologies by 10%, raising the R&D budget from 37.4 trillion Korean won this year to 41.2 trillion Korean won (approximately 210 billion Chinese yuan). Additionally, in next year's budget, allocations totaling 2.651 trillion Korean won will be earmarked for the research and development of system semiconductors, small modular reactors (SMRs), 5G open radio access network (Open RAN), quantum computing, and sensors.

In the legal realm, the Korean government is set to enact the "National Strategic Technology Special Law," establishing a system foundation for the designation and management of strategic technologies and intensifying support measures.

As global industrial structures and supply chains face uncertainty amid heightened tensions in Sino-American relations, this initiative aims to solidify Korea's position in the international arena, ensuring a resilient and competitive electronic components industry.