To establish a dominant position in the graphene market, which is still in its infancy, the government will create a supply system for raw materials, support early commercialization of graphene applied products and create cooperative bodies composed of companies, academies and research institutions. (image: Kobiz Media / Korea Bizwire)
SEOUL, April 7 (Korea Bizwire) — The Korean government is mobilizing resources to support the Korean graphene industry, in a push to be the first dominating force in the global market, announcing on April 6 that it would achieve sales of 19 trillion won (US$ 17.4 billion) and create 50,000 jobs by 2025.
To establish a dominant position in the graphene market, which is still in its infancy, the government will create a supply system for raw materials, support early commercialization of graphene applied products and create cooperative bodies composed of companies, academies and research institutions.
The Korean government will first select six graphene applied products from composite material, display and energy companies, and start a model business in which the companies will receive support in the commercialization of their graphene products. The state will also implement standardization measures for companies to produce internationally credible graphene products.
The government expects that with its support, Korea will be able to secure 85 core graphene technologies by 2020. The first sales of graphene products are expected to come from the electromagnetic wave shield coating industry in 2017.
In government assessments, Korean companies and institutions have been identified as possessing internationally competitive graphene technologies, and the demand for graphene products is already significant enough for it to be seen as a growth industry.
By Kevin Lee (kevinlee@koreabizwire.com)
