SEOUL, Jan. 9 (Korea Bizwire) – The Korean government will focus their efforts to promote 270 degree movies, thermoplastics, and fuel cells, according to an announcement from the third public-private meetings of the ‘Creative Economy.’ The meeting was held to draft a plan for a second flagship project.
The flagship project concept was initiated by the government to accelerate private businesses that have large growth potential. The first flagship project, which dealt with carbon fiber and energy storage systems, was initiated in May 2014.
According to plans for the second flagship project, the government will support the development of a new cinema system that shows movies not only on the main screen but also on the two side walls next to the main screen.
The system is called ‘Screen X,’ and was invented by CJ and KAIST. The Screen X system provides an immersive panoramic viewing experience without requiring the use of any gadgets like 3D glasses. However, filmmakers will have to shoot with three cameras rolling simultaneously to benefit from the two new screens.
Although no full-length films have been shot for the Screen X format so far, there are 75 Screen X applied screens in Korea. Short films and advertisements shot in the Screen X format have been shown on those screens. CJ and other private enterprises will further develop technology related to the the Screen X format, and build 20 more Screen X applied screens – 10 in Korea and 10 abroad.
The second flagship project focuses on the PEEK (polyether ether ketone) industry. PEEK is a high performing semi-crystalline thermoplastic that is strong, stiff and has high temperature resistance. Hyosung, the South Korean industrial giant, has developed source technology to commercialize the use of PEEK, and is planning to increase its PEEK production capacity to 50,000 tons by the end of this year from the current 10,000 tons. Hyosung is also set to develop a huge line of PEEK products by 2020.
The government will establish a certification system for green technology applied to PEEK production, and will support R&D related to PEEK technology for enterprises participating in the second flagship project.
Another plan in the project is to revitalize the fuel cell industry. The government will encourage R&D spending in order to produce fuel cells with Korean technology. Posco Energy and local authorities will together spend 460 billion won by 2020 to develop different varieties of fuel cells.
By J.W. Choi (email@example.com)