Gyeonggi-do Unveils Blueprint for 'Localization of Materials, Parts, and Equipment'

[Asia Economy (Uijeongbu) = Reporter Lee Young-gyu] Gyeonggi Province has prepared a blueprint to enhance the weak competitiveness of the materials, parts, and equipment industry, which was exposed by Japan's export restrictions on Korea last July, and to promote localization.

On the 26th, Gyeonggi Province held the "Final Report Meeting on the Basic Plan Research Service for Fostering the Materials, Parts, and Equipment Industry" at the Gyeonggi Research Institute in Suwon.

At the meeting, the Gyeonggi Research Institute, which conducted the research service, proposed 10 tasks under three strategies with the vision of "Establishing a Hub for the Global Materials, Parts, and Equipment Industry Ecosystem": ▲ selection and fostering of core strategic items ▲ establishment of a win-win foundation for large, medium, and small enterprises ▲ promotion of industry-academia-research clusters.

As a strategy for selecting and fostering core strategic items, the Gyeonggi Research Institute suggested diversifying imports and providing special financial support, rapid support for technology development, establishing a mid- to long-term R&D support system, and demand-tailored package support.

Also, as a strategy to establish a win-win foundation for large, medium, and small enterprises, it identified three tasks: activating cooperative projects between companies, technology cooperation between demand and supply companies in the context of fostering semiconductor downstream industry clusters, establishing semiconductor-specialized clusters, and nurturing semiconductor-specialized professionals.

In addition, as a strategy to promote industry-academia-research clusters, the Gyeonggi Research Institute proposed supporting technology development, commercialization and networking, and linked human resource development among industry, academia, and research institutes.

On the same day, the Gyeonggi Research Institute also presented 46 "core strategic items" that should be focused on fostering and managing at the Gyeonggi Province level, including semiconductor materials.

Based on the results of this research service, the province will prepare a basic plan next month after gathering expert opinions. Subsequently, it plans to prepare a budget focusing on effective measures and projects.

Kim Gyu-sik, Director of Economic Planning at the province, emphasized, "We will no longer be satisfied with short-term achievements but will create a foundation for technological independence from a mid- to long-term perspective by strengthening cooperation between technology development, demand-supply companies, and industry-academia-research connections." He added, "We will do our best to establish and implement plans to create an innovative industrial ecosystem."

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