For Keeping #1 Position

Industry minister Baek Woon-kyu (6th from right) and Samsung Electronics vice chairman Kwon Oh-hyun (6th from left) pose after a seminar on the semiconductor and display industries hel at Kensington Hotel in Seoul on September 18.
Industry minister Baek Woon-kyu (6th from right) and Samsung Electronics vice chairman Kwon Oh-hyun (6th from left) pose after a seminar on the semiconductor and display industries hel at Kensington Hotel in Seoul on September 18.

 

The Korean semiconductor and display industries will invest 51.9 trillion won (US$46 billion) in Korea by 2024.

The Ministry of Commerce, Industry and Energy (MOTIE) held a seminar on the semiconductor and display industries chaired by minister Baek Woon-kyu at Kensington Hotel in Seoul on September 18 chaired. In attendance were about ten VIPs such as Samsung Electronics vice chairman Kwon Oh-hyun, SK Hynix vice chairman Park Sung-wook, and LG Display vice chairman Han Sang-beom.

The meeting was held in order to listen to the opinions of those in the semiconductor and display industries such as their difficulties and to find ways to win-win cooperation between large and small enterprises. Representatives of the industries said that their companies will take the lead in creating decent jobs through domestic investment of 51.9 trillion won by 2024.

Samsung Electronics is planning to invest 21.4 trillion won in Pyongtaek and Hwaseong of Gyeonggi Province and Asan of South Chungcheong Province for its memory and organic light emitting diode (OLED) business until 2021.

SK Hynix will invest 15.5 trillion won in NAND semiconductors in Cheongju, North Chungcheong Province by 2024.

LG Display said that the company will invest 15 trillion won in OLEDs in Paju, Gyeonggi Province and Gumi, North Gyeongsang Province by 2020.

The representatives of the industries appealed to the minister to address their difficulties such as troubles in securing infrastructure in line with the establishment of large-scale factories, expanding safety and environmental regulations and a lack of skilled workers. Vice chairman Kwon asked the government to support semiconductor-related research projects and the development of human resources such as strategic semiconductor research and development (R & D) while pointing out problems stemming from a manpower shortage.

Vice chairman Han Sang-beom explained that even if companies applied for the government’s R&D support, their applications are not applied to the government’s budgets simply because they are big companies. Vice chairman Han called on the government to get rid of its distrust of big companies this time, saying, “The government’s R&D projects are geared towards giving supports not to big companies but to their first- and second-tier partners.  

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