SEOUL, Sept. 18 (Korea Bizwire) — South Korea’s commerce ministry said Friday it has launched a consortium to develop key technologies of next-generation display technologies.
The Ministry of Trade, Industry and Energy said the Korea Display Research Consortium (KDRC), established under cooperation with private firms and institutions, will play a key role in adding vitality to the local display industry.
The government and companies plan to make a combined investment of 28 billion won (US$24 million) through 2019.
The ministry said the move came in line with the rising need to secure technologies in the organic light-emitting diode (OLED) segment, which emerged as a new growth engine in the industry.
The KDRC will focus on fostering experts on display technologies and take the lead in cooperation between the government and private firms, it added.