With an investment of 14.3 billion won, South Korea will build a Micro LED industrial base

On May 26, Korean media reported that the Gyeonggi-do government of South Korea plans to build a "Gyeonggi Cooperation Center" project at the Gyeonggi Branch of the Korea Optical Technology Research Institute for local display, LED, and semiconductor companies to enter the Micro LED display industry.

The project will support the development of equipment and services required for high-end TVs, wearables and in-vehicle displays using sub-70 micron LEDs.

The Gyeonggi-do consortium will receive a total of 14.3 billion won (10 billion won from the government and 4.3 billion won from local funds) in the five years to 2026.

The provincial government expects that through the five-year project, small and medium-sized enterprises in the province will be able to effectively enter the cutting-edge MicroLED display industry with the cooperation base center as the core to ensure competitiveness.

According to reports, Gyeonggi-do has the largest number of optical technology-related industries in South Korea, with a total of 670, accounting for 37.5% of the country.

Government officials in Gyeonggi Province stated that Micro LED is the next generation display platform after OLED. It has huge growth potential in the early stage of the market. Competition between countries is fierce. The government plans to build the "Gyeonggi Cooperation Center" project into the core industry development of Micro LED. The base will be deployed in new global markets to realize the localization of Micro LED components.