1.2 Billion KRW Support for Semiconductor and Advanced Materials & Components Companies

The Ministry of Trade, Industry and Energy (MOTIE) announced on the 18th that the National High-Tech Strategic Industry Committee's Technology Subcommittee has selected 21 small and medium-sized companies as final recipients of the 'National High-Tech Strategic Industry Materials, Parts, and Equipment Investment Support Fund.'
Major companies chosen for the investment support fund include Soulbrain (semiconductor materials), Jusung Engineering (semiconductor equipment), Dongwha Electrolyte (secondary battery electrolytes), and Amicogen (bio media), among others.
The investment support fund is a newly established project with a government budget of 70 billion KRW, aimed at encouraging domestic investment in advanced industries such as semiconductors and secondary batteries.
A total of 62 investment plans, amounting to approximately 1.2 trillion KRW (with about 210 billion KRW from the national budget), were submitted. After document reviews and presentations, 1.211 billion KRW (including local government funds) will be distributed to four advanced industry sectors: semiconductors, secondary batteries, bio, and display.
The final selected companies will receive project funds as soon as they complete administrative procedures, such as signing business agreements, following separate guidance from the Korea Institute for Advancement of Technology (KIAT), the project management agency.
Park Dong-il, Director General for Industrial Policy at MOTIE, who attended the technology subcommittee, stated, "As global supply chain competition intensifies, the investment support fund will serve as a catalyst for expanding domestic production and research facilities." He added, "We will actively expand investment in the materials, parts, and equipment sector, which is the core foundation of industrial competitiveness, to strengthen the competitiveness of our companies, increase localization rates, and ensure the stable growth of the domestic high-tech industry ecosystem."

[email protected] Park Ji-young Reporter