Incheon City Accelerates the Transformation of Root Industries into High-Value Advanced Industries

Incheon City announced on the 23rd that it will actively promote the transformation of the root industry into a high value-added advanced industry by strengthening technological competitiveness through support for research and development (R&D) of root technologies.

The root industry refers to 14 major sectors that operate using process technologies such as casting, mold, welding, plastic working, surface treatment, and heat treatment, forming the foundation of all manufacturing industries.

Following the 'K-Root Industry Advancement Strategy' announced by the Ministry of Trade, Industry and Energy in March, the city plans to actively participate in the root technology R&D public contest project, which will invest a budget of 405.1 billion KRW over six years from 2025 to 2030 to transform the root industry into a high value-added advanced industry.

This project supports research and development to proactively secure next-generation common and core root technologies in response to demand industries. Currently, a preliminary feasibility study is underway, and the public contest is expected to be launched around next year.

In addition, the city plans to actively foster the root industry by closely cooperating with the Korea Institute of Industrial Technology's Root Technology Research Institute and the Korea Rare Metal Industry Technology Center located in Incheon to enhance technological competitiveness and establish a stable supply chain ecosystem.

The Root Technology Research Institute has achieved many results in various fields ranging from the future mobility industry to the semiconductor industry. The Rare Metal Center focuses on nurturing specialized companies in rare metals, known as the vitamins of industry, and training specialized personnel.

Moreover, the Materials, Parts, and Equipment Demonstration Center, which opened in December last year to support materials, parts, and equipment companies, is a specialized comprehensive research support facility with an area of approximately 3,300㎡, equipped with a total of 85 types of high-precision analysis devices for developing core technologies. It is expected to play the role of a strong supporter and facilitator for the root industry in the Incheon region.

Incheon City Hall

As of the end of 2021, Incheon had 4,722 root industry companies, accounting for 9.2% of the 51,338 root companies nationwide. The annual sales amounted to 17.9035 trillion KRW, representing 7.9% of all root companies in South Korea.

An official from Incheon City stated, "To secure continuous future growth engines for Incheon, fostering the root industry, which is the foundation of manufacturing, is essential," and added, "We will continue to actively promote support projects in line with national policies to advance the root industry and create high added value."

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