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KEIT’s Efforts to Reduce Dependency on Japan for Materials and Parts
20 Core Materials and Components Exhibition
KEIT’s Efforts to Reduce Dependency on Japan for Materials and Parts
  • By matthew
  • October 8, 2013, 09:13
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Lee Ki-sub, Chairman and President of Korea Evaluation Institue of Industrial Technology.
Lee Ki-sub, Chairman and President of Korea Evaluation Institue of Industrial Technology.

 

The Korea Evaluation Institute of Industrial Technology (KEIT) will host the “20 Core Materials and Components Project Performance Exhibition” from October 30 to November 1 at the Ilsan KINTEX.

The exhibition is to share the performance of the “20 Core Materials and Components Project” which has been in operation by KEIT for the past three years. The objective has been to create self-reliant core materials and components businesses, which is mandatory to reduce trade dependency on Japan.

The “20 Core Materials and Components Project Performance Exhibition” is expected to provide great benchmarking opportunities to other materials parts companies and facilities by thoroughly exhibiting each business, beginning to end.

The project began in November 2009, and its purpose was to develop 20 core products in 6 major fields to urgently replace any of 100 imported materials and components that are likely to face increased demand in the future. The project was expected to be complete this year.

Since there is a growing dependence on Japan for core materials and components due to a lack of original technology, the project focused on accomplishing creating core materials and components to make Korean businesses self-reliant, based on “selection and concentration.” Over the course of three years, a total of 225.5 billion won (136.5 billion in government donations) will be invested into a total of 20 fields.

Through this project, the development and commercialization of 20 core materials and components with high foreign trade dependency achieved technological self-reliance. This will contribute greatly to the reduction of Korea’s high trade dependency on Japan for the materials parts business.

On the other hand, the exhibition will be hosted alongside the “2013 Global Material Parts Industry Fair,” the largest event in the domestic materials and components industry with over 780 domestic and international materials and parts related companies, facilities, colleges and research institutes participating. Awards ceremonies, exhibitions, seminars and forums, and networking conferences with foreign companies will also be held together.

KEIT Representative Lee Ki-subsaid, “This exhibition will show the fruits of efforts poured in by the business personnel for the past three years, and I hope many materials and components associates visit to confirm the potential and capabilities of the domestic materials and components industry.”