Minister of Industry Visits Parts Factory Overcoming Japanese Regulations, Emphasizes "Public-Private Cooperation to Overcome COVID-19"

Domestic Production of Fluorinated Polyimide, Visit to Kolon Industries

Sung Yoon-mo, Minister of Trade, Industry and Energy. / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Moon Chaeseok] On the first day of the enforcement of the Special Measures Act on the Materials, Parts, and Equipment Industry on the 1st, Sung Yun-mo, Minister of Trade, Industry and Energy, visited the Kolon Industries factory located in the Gumi National Industrial Complex, Gyeongbuk, which has localized fluorine polyimide, one of Japan's export-restricted items.

The meeting was attended by government officials including Minister Sung, Park Young-sun, Minister of SMEs and Startups, Lee Cheol-woo, Governor of Gyeongsangbuk-do, Jang Se-yong, Mayor of Gumi, as well as industry figures from Kolon Industries, LG Innotek, Intops, and public institution officials from the Industrial Complex Corporation.

According to the Ministry of Trade, Industry and Energy, the Kolon Industries factory started mass production from the first half of last year based on facilities capable of producing about 30 million units annually for 7.3-inch panels. The ministry emphasized that the localization and large-scale mass production of fluorine polyimide by this company is a representative achievement in strengthening the competitiveness of materials, parts, and equipment.

The Gumi industrial complex is promoting various efforts together with the Daegu and Gyeongbuk regions to overcome COVID-19.

Kolon Industries has converted its research-use melt-blown (MB) filter facilities into manufacturing use and is supplying a total of 2 million MB filters free of charge. They also invested about 2.5 billion KRW to build and donate a negative pressure treatment ward (24 beds) in one building at the Seoul National University Hospital Human Resources Center located in Mungyeong, Gyeongbuk, which is used as a COVID-19 residential treatment center for Daegu and Gyeongbuk. The facility began full operation from that day.

Intops signed an agreement with Gumi City to donate essential living supplies worth 84 million KRW annually in four installments to families affected by COVID-19 and elderly living alone. LG Innotek also pledged to donate 18,000 masks to Gumi.

At the meeting, exemplary cases of COVID-19 overcoming by companies in the Gumi industrial complex and their difficulties were shared. Companies presented opinions to the government such as easing entry restrictions on Koreans by major countries, strengthening financial support for small and medium-sized enterprises and mid-sized companies, transforming the Gumi industrial complex into a smart industrial complex, and reinforcing regional industry-academia cooperation.

Minister Sung said, "The real and financial complex crisis caused by COVID-19 must be overcome through the joint efforts of the government and the private sector," and added, "The government plans to mobilize all necessary measures."

Meanwhile, according to the Special Measures Act on the Materials, Parts, and Equipment Industry, which is fully enforced from that day, the government will promote strengthening competitiveness through technology development, infrastructure establishment, funding, and operational support. It plans to actively support companies to achieve results.

The Ministry of Trade, Industry and Energy announced that it will invest a budget of 2.1 trillion KRW, more than double the previous year, through the newly established "Special Account for Strengthening Materials, Parts, and Equipment Competitiveness" this year. It also stated that it plans to discover and promote cooperation models between companies and inter-ministerial cooperative projects through the "Materials, Parts, and Equipment Competitiveness Enhancement Committee," which serves as a control tower across ministries.

This content was produced with the assistance of AI translation services.