S. Korean gov't to foster local firms in materials, parts and equipment industry into global contenders

소재•부품•장비 경쟁력 강화 본격 시동,... 100대 핵심 전략기술 선정South Korea wants to boost the country's competitiveness in the materials, parts and equipment industry,... items deemed critical for producing semiconductors and flexible displays by naming it one of the country's 100-core strategy technologies.According to the plan the government will foster businesses specialized in the production of core techniques with up to 4-million dollars of annual funding so they can become leading global firms.Those efforts include the easing of finance-related regulations and funding with companies' R&D.Public institutions will solidify the domestic supply chain by setting up a specialized material, parts and equipment complex.The government sees the COVID-19 pandemic as an opportunity to narrow the gap between South Korean firms and other leading global companies.