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Title Vol. 93 Policy Analyses on the Materials, Components and Equipment Industry (English Edition)

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  • Date
    2020-09-24
The Korean government has been establishing and implementing policies related to the materials, components, and equipment industries since 2001 and has achieved external growth, such as output increases and trade surpluses. Additionally, Korea has promoted localization and diversification of the supply chain in response to Japan's export regulations and its exclusion of Korea from the White List while mitigating the impact on relevant industries, which has contributed to some achievements. Despite these achievements, analysis shows that various problems have emerged, including shrinking scale and polarization of the industry, monopoly market structure, a trade deficit with Japan, and financial allocation issues. When establishing future policies for the materials, components, and equipment industries, it is necessary to focus on strengthening the linkage between supplier and buyer, providing support for SME technology improvement, nurturing advanced research personnel, and supporting employment.
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