The Ministry of Science, Information Technology, and Future Planning in South Korea has announced its priority areas for financing the national industry, with plans to attract up to $121 billion in investments by 2027. Private companies will allocate the majority of the funding, with $118 billion from their own capital, while the South Korean government will provide subsidies of around $3.4 billion.

Image credit: SK On

Lee Jong-ho, the head of the department, has identified around 100 priority areas for the development of the South Korean industry, which will receive increased attention from officials. In the semiconductor sector, the focus will be on new memory memristor-based technologies, accelerators for AI systems, 6G communication networks, autonomous vehicle control systems, and 3-nm and thinner lithographic technologies.

The development of promising types of displays for virtual reality devices, wearable electronics, and car interiors will also receive priority funding, with flexible displays finding applications in all of these areas. Moreover, the ministry will provide extensive support for the development of new types of batteries for electric vehicles, including 14 promising technologies aimed at improving the properties and characteristics of lithium batteries, at least 7 developments to enhance hydrogen fuel cells, and six more technologies to contribute to the emergence of isotopic sources of electricity, which can be useful in space technology.