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400 Billion Won Invested in Smart Manufacturing R&D for Next Five Years
Smart Manufacturing
400 Billion Won Invested in Smart Manufacturing R&D for Next Five Years
  • By Cho Jin-young
  • December 11, 2015, 01:45
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The Ministry of Science, ICT & Future Planning made public its long-term roadmap for smart manufacturing R&D on Dec. 10. The roadmap covers the eight smart manufacturing technologies of smart sensors, cyber physical systems, 3D printing, energy conservation, IoT, cloud computing, big data and holograms. The purpose of the roadmap is to renovate the domestic manufacturing sector with these novelties.

In April this year, the ministry formed a task force to that end with the Ministry of Trade, Industry & Energy and 76 industrial experts based on the idea that collaborations between different technical fields are essential for the innovation of manufacturing, technological convergence and market demand creation.

Their plan is to raise Korea’s technological competitiveness in the eight industrial fields by 17 percentage points to 88 percent of that of developed countries by refining every manufacturing cycle and coming up with exemplary ICT convergence models.

According to the roadmap, a total of 416.1 billion won (US$352.7 million) is expected to be invested for five years to come for the technological R&D required in the eight segments. The government also explained that the roadmap will lead to a higher level of manufacturing productivity, less energy costs and shorter product development periods, contributing to Korea’s plan to turn itself into a part of the global top four manufacturing economies.