Ministry of Industry Announces New R&D Projects for Materials, Parts, and Equipment... 886.6 Billion Won Invested This Year

[Asia Economy Reporter Kwon Haeyoung] The Ministry of Trade, Industry and Energy announced on the 31st that it will open 181 new research and development (R&D) projects under the '2021 Materials and Components Technology Development Project.'

This year, the Ministry of Trade, Industry and Energy's budget for the Materials and Components Technology Development Project totals 886.6 billion KRW. Of this, 597.9 billion KRW is continuing budget, and 288.7 billion KRW is new budget. This call for proposals is the first round for part of the new budget. The application period is from next month 1st to March 4th.

The main features of this year's new projects are ▲ unwavering promotion of stabilizing the materials and components supply chain ▲ strengthening future growth capabilities such as next-generation technologies ▲ first introduction of civilian-military cooperation projects ▲ mandatory IP-R&D (patent-related consulting during research and development) for all projects.

The Ministry will newly support 195 billion KRW for 181 projects across eight major sectors by adding energy and defense to six key industries including semiconductors and automobiles. Specifically, ▲ 100.5 billion KRW for 91 projects to stabilize the global materials and components supply chain ▲ 60.8 billion KRW for 60 projects for eco-friendly materials and components for carbon neutrality ▲ 24.2 billion KRW for 24 projects for localization of renewable energy materials and components ▲ 9.4 billion KRW for 6 projects for localization of defense materials and components.

The 181 projects announced today were selected through industrial sector technical committees and industry-academia-research evaluations, mainly from 2,233 submissions received during the industry demand survey conducted in July-August last year, actively reflecting recent corporate demands and industry trends. The Ministry will accept project proposals related to these projects on the Korea Institute for Advancement of Technology website until March 4th, and after evaluations by relevant experts, plans to select the lead institutions in April.

Lee Kyungho, Director of Materials, Components, and Equipment Cooperation at the Ministry of Trade, Industry and Energy, said, "This new R&D project reflects the government's strong will to unwaveringly strengthen the competitiveness of materials and components," adding, "Government R&D investment will faithfully serve as a catalyst to expand future growth capabilities such as next-generation technologies that will lead paradigm shifts including global supply chain stabilization, eco-friendly initiatives, and digital transformation."

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