Gyeongnam Province Selected for 2 Smart Specialization Infrastructure Projects ... Secures 16 Billion KRW in National Funding

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gyeongsangnam-do announced on the 6th that two projects were selected in the '2021 Regional Hub Smart Specialization Infrastructure Construction Project' announced by the Ministry of Trade, Industry and Energy.

The two selected projects are the 'Medical Device Industry Conversion Support Infrastructure Construction Project' in Gimhae and Yangsan, and the 'Nano Technology-Based Large-Area Functional Film Commercialization Support Platform Construction' in Miryang. The province secured a total of 16 billion KRW in national funding.

The Smart Specialization Infrastructure Construction Project is a project by the Ministry of Trade, Industry and Energy to advance industrial hub infrastructure centered on new regional industries targeting non-metropolitan cities and provinces.

The Medical Device Industry Conversion Support Infrastructure Construction Project aims to convert and promote the province’s main industries?materials and components, ICT, and precision equipment industries?into high value-added medical device industries, with a plan to invest 20 billion KRW over three years.

The province expects about 650 companies, approximately 20% of the 3,280 materials, components, and precision equipment companies, to be potential demanders for medical device industry conversion. This project was planned as a catalyst to overcome the crisis of the local machinery, equipment, materials, and components industries, which have been in continuous growth stagnation, and to create new growth engines.

In particular, due to the spread of the novel coronavirus infection (COVID-19), the project targets industry conversion to medical devices and supplies such as in vitro diagnostic devices, masks, hand sanitizers, and thermometers, whose demand is rapidly increasing. This is expected to lead to rapid growth of the medical device industry in the province in the future.

The Nano Technology-Based Large-Area Functional Film Commercialization Support Platform Construction Project supports commercialization such as functional film development verification and manufacturing support in response to the rapidly increasing demand for next-generation ICT convergence functional film-type materials, components, and products development.

To this end, 12 billion KRW will be invested over three years starting next year to establish a large-area functional film manufacturing environment based on nano cylindrical mold continuous production processes and support technology development for nano-related companies at the Miryang Nano Convergence Center.

Kim Young-sam, Director of Industrial Innovation at Gyeongsangnam-do, emphasized, "With the selection of the medical device industry conversion project and the nano convergence project, which can converge with all industrial fields, in the public offering, it will greatly contribute not only to creating new growth engines for regional industries but also to adding high value to the stagnant local manufacturing industry."

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