South Korea (MOTIE) Invests 1,178 Billion KRW in Material and Component Technology Development This Year

2025-02-28

The South Korean government announced that it will invest 1,178 billion KRW (81.75 billion USD) in material and component technology development this year. This is a 3.2% increase from previous year (1,141 billion KRW, 79.18 billion USD). In addition, R&D for stabilizing the supply chain of materials, components, and equipment will continue to be expanded. This year, 131.2 billion KRW (9.09 million USD) will be invested, an increase of 71.3%.

By industry, a total of 441.7 billion KRW (30.65 million USD) will be invested in the development of materials and components to secure super-gap in advanced strategic industries, including 136.1 billion KRW (9.45 million USD) for semiconductors, 101.9 billion KRW (7.07 million USD) for displays, 100.9 billion KRW (7 million USD) for secondary batteries, and 102.8 billion KRW (7.13 million USD) for bio.

In addition, a total of 736.3 billion KRW (51.09 million USD) will be invested in material development for high value-added and eco-friendly competitiveness of key industries such as 305.3 billion KRW (21.20 million USD) for machinery and metals, 89 billion KRW (6.18 million USD) for automobiles, and 111.3 billion KRW (7.72 million USD) for chemicals, and material development for preempting promising future industries such as 62.8 billion KRW (4.36 million USD) for aerospace and 20 billion KRW (13.88 million USD) for hydrogen.

And R&D for stabilizing the M&C supply chain will continue to be expanded. To this end, following 17.6 billion KRW (12.21 million USD) in 2023 and 76.6 billion KRW (5.31 million USD) last year, 131.2 billion KRW, 9.09 million USD(+71.3%) will be invested this year to support the development of alternative materials and recycling of 185 supply chain stabilization items

Source: https://www2.korea.kr/news/policyNewsView.do?newsId=148939222