Due to the Semiconductor Shortage... Hong Nam-ki: "Commercialize More Than 5 Core Power Semiconductor Products by 2025"

'The 7th Innovation Growth BIG3 Promotion Meeting' Held

Deputy Prime Minister for Economy Hong Nam-ki presiding over the Innovation Growth Big 3 Promotion Meeting held at the Government Seoul Office on the 1st. (Photo by Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok] Amid semiconductor supply shortages causing production disruptions for automobile manufacturers, the government announced on the 1st that it plans to commercialize more than five core power semiconductor products by 2025.

At 10 a.m. that day, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki held the '7th Innovation Growth BIG3 Promotion Meeting' at the Government Seoul Office and made this announcement during his opening remarks.

Deputy Prime Minister Hong said, "Next-generation power semiconductors are key components for digital and green New Deal sectors such as electric vehicle batteries and solar power, but over 90% of them are imported due to insufficient production scale and technological capabilities." He added, "To establish a domestic self-reliance foundation by 2025 by commercializing more than five core products, we will provide focused support in three stages: demand-linked commercialization, core technology development, and expansion of manufacturing capabilities." This means support will be tailored to the needs of component demand companies (large corporations) and supply companies (suppliers).

Hong also stated, "This month, we will hold a cooperation council between demand and supply companies and promote infrastructure expansion to increase the prototype support volume of the power semiconductor commercialization center from 300 to 600 units per month by next year." He explained, "We will invest 10 billion won this year to support next-generation power semiconductor technology development based on three core materials including silicon carbide (SiC), and focus on establishing a supply chain so that wafer manufacturing can be done domestically in the future." He added, "We will support the establishment of manufacturing processes for private foundries (semiconductor contract manufacturers) and build a reliability evaluation certification center within the Busan power semiconductor commercialization center by next year."

To expand the supply of eco-friendly vehicles and infrastructure, safety inspections will be strengthened and maintenance systems established. Hong said, "We will increase the number of electric vehicle battery safety test items from seven to eleven and expand the number of electric vehicle specialized maintenance shops from 1,100 as of last year to 3,300 by 2025." He also announced, "This year, we will reorganize the automotive department curriculum, and the current ten hydrogen vehicle inspection centers will be more than doubled to 23 by next year." He added, "This month, the Electric Safety Management Act will be enforced to mandate safety inspections by the Korea Electrical Safety Corporation when installing electric vehicle charging facilities, and in November, an integrated management system for inspection items and history will be established."

The government plans to designate ten major concentrated export items for K-quarantine, such as low dead space (LDS) vaccine syringes, and focus on export support. Hong said, "Within this year, we will create new programs including a 3 billion won K-quarantine exclusive export voucher and 10 billion won export financing, and expand export support systems such as opening a dedicated testing and certification window." He added, "In the first half of the year, we will actively support strengthening mid- to long-term export competitiveness by developing region- and country-specific customized package products including diagnostic reagents, software (SW), and diagnostic testing."

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