21 Top SoBuJang Companies Selected... Up to 25 Billion KRW R&D Support

Selection of 100 Core Strategic Technology Specialized Companies by 2024
Full-cycle Support Including Technology Development, Commercialization, and Global Expansion

[Sejong=Asia Economy Reporter Kwon Haeyoung] The government has selected 21 second-phase Sobujang Eutteum companies that will lead the global market in core strategic technology fields.

On the morning of the 10th, the Ministry of Trade, Industry and Energy held the '2022 Sobujang Eutteum Company Designation Ceremony' at the Four Seasons Hotel in Gwanghwamun and awarded designation certificates to representatives of the 21 second-phase Sobujang Eutteum companies.

Sobujang Eutteum companies are businesses identified as having the highest domestic capabilities and future growth potential in the top 100 core strategic technology fields of Sobujang, and are nurtured to become globally competitive companies. Last year, 22 companies were selected for the first time, and with the addition of 21 companies this time, a total of 43 companies have been selected so far. The government aims to select a total of 100 companies by 2024.

Among 218 companies confirmed to possess core strategic technologies, 21 Eutteum companies were selected through evaluation of applicants. These include 1 large company, 9 mid-sized companies, and 11 small and medium enterprises. By sector, 6 companies in semiconductors, 2 in displays, 4 in machinery and metals, 5 in electrical and electronics, 2 in automobiles, and 2 in basic chemicals were selected.

The Eutteum companies are evaluated as possessing the highest domestic technology in core strategic technology fields based on patents, research and development (R&D) personnel and capabilities, and expert reviews. They are also considered to have the potential to grow into global top companies based on domestic and international investment, overseas expansion experience, manufacturing environment, and the will and vision of management.

One of the companies selected this time, E&F Technology, is the number one domestic company in electronic materials such as semiconductor and display process materials and organic materials. Recently, it completed the independent development of mass production technology for ultra-high purity hydrogen fluoride, which had been entirely dependent on imports from Japan, and plans to expand its business into related domestic and international markets.

Over the next five years, Eutteum companies will receive support throughout the entire cycle including ▲technology development ▲commercialization ▲global expansion by utilizing exclusive and linked support programs. To this end, the government will prioritize providing up to 25 billion KRW in R&D support over five years, significantly reduce corporate burden fees, support demonstration evaluations using public institution testbeds, and offer industrial technology policy funds. Customized export Sobujang supply-demand response support centers will be designated as dedicated windows for resolving difficulties of Eutteum companies, and the regulatory bypass system will be applied to promptly improve regulatory issues upon Eutteum companies' requests.

Minister of Trade, Industry and Energy Moon Seungwook emphasized, "We will actively support world-class technology, commercialization, global market entry, and regulatory improvements for the success of the Sobujang Eutteum company development project," adding, "Public-private cooperation is important to respond to the upcoming industrial transformation, and the government will support industrial innovation through supply chain management, acceleration of clean energy transition, and creation of future growth engines."

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