Government's Designation of 'Advanced Strategic Industry Specialized Complex'... Semiconductor and Display Industries "Actively Welcome"

Jointly Expressing Support and Welcoming
"Helps Secure Competitiveness in the Sobujang Industry"

The government designated seven locations, including Yongin, as national advanced strategic industry specialized complexes on the 20th to secure a super-gap in semiconductors, secondary batteries, and displays, and the related industries expressed their welcome.

The Korea Semiconductor Industry Association issued a statement on the day, saying, "As the global competitive environment surrounding semiconductors is rapidly changing, it is essential to strengthen the competitiveness and achieve co-growth of the entire semiconductor ecosystem, including materials, parts, and equipment, for the continuous development of the domestic semiconductor industry," adding, "The comprehensive industrial ecosystem support policy through the designation of specialized complexes will greatly help secure the future competitiveness of national advanced strategic industries, including the semiconductor industry and the SoBuJang (materials, parts, and equipment) industry."

They continued, "The semiconductor industry will strive to ensure active investment within the specialized complexes powered by government support, and through this, we will do our best to contribute to the national economic development through the semiconductor industry."

The display industry also expressed its welcome. The Korea Display Industry Association released a statement on the day, saying, "With government support, the Chungnam Cheonan-Asan region has been designated as a display specialized complex, and it is expected to create a competitive and robust display industry ecosystem by concentrating small and medium-sized enterprises and mid-sized companies centered on next-generation displays such as OLED, micro LED, and nano LED."

They emphasized, "Especially, Chungnam Cheonan-Asan recorded about 62% of the domestic display export share with $13 billion in exports as of last year, the largest in Korea. It is home to various industry-related research institutes and universities, such as the Display Innovation Process Platform located in Cheonan and the Korea Institute of Industrial Technology, providing a cooperative environment among diverse innovation resources, making it a major display production base."

They added, "Once designated as a national advanced strategic industrial complex, various benefits and support measures such as fast-track approval for investment and investment promotion subsidies will be provided, which is expected to help promote new investments in the panel industry," and forecasted, "Additionally, it is expected to improve the localization rate of SoBuJang, which had stagnated due to sluggish domestic investment (currently at 65%)."

The government held a meeting of the National Advanced Strategic Industry Committee chaired by Prime Minister Han Duck-soo at the Government Seoul Office on the day and designated seven locations as national advanced strategic industry specialized complexes: Yongin-Pyeongtaek and Gumi (semiconductors), Cheongju, Pohang, Saemangeum, and Ulsan (secondary batteries), and Cheonan-Asan (displays).

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