The South Korean government is rolling out a "Super eul" initiative to foster companies in the materials, components, and equipment sectors. This ambitious plan includes targeted support for research and development, accelerated commercialization, and financial backing, sparking interest across various industries.
The concept envisioned by South Korea seeks to elevate the traditional role of B2B companies, positioning them as providers of exceptional service and value. The initiative targets firms with unique, unreplicable technologies that play a pivotal role in the global supply chain—similar to how ASML of the Netherlands has established itself as the sole producer of extreme ultraviolet (EUV) lithography equipment.
Reports from local media, including ET News and SBS, reveal that South Korea's Ministry of Trade, Industry, and Energy (MOTIE) recently convened a field consultation to outline the "Super eul" scheme, which revolves around three core strategies: Super R&D, Super Pass, and Super Growth.
MOTIE plans to bolster these firms by developing world-class supply chain technologies under its "Super R&D" strategy. The newly established committee will assess companies' research and growth roadmaps, selecting firms to receive comprehensive seven-year support packages, including two years of early-stage technology development, three years for commercialization, and two years for subsequent advancements.
To hasten the commercialization of research outcomes and expand global market reach, MOTIE is introducing a "Super Pass" system. This will integrate patenting, standards, certification processes, and export support, with a focus on securing patents in key markets such as the United States, the European Union, and Japan. Additionally, the plan will provide support for overseas production evaluations and tailored export assistance.
In tandem, MOTIE is devising a "Super Growth" strategy, encompassing financial, investment, tax, and infrastructure support. By 2025, a "Super eul development fund" is expected to be established, along with enhanced support structures like tax incentives and testing platforms within special economic zones.
Prominent South Korean companies in the materials, components, and equipment sectors, including PI Advanced Materials and Jahwa Electronics, took part in the consultation, alongside key institutions such as the Korea Trade-Investment Promotion Agency (KOTRA), the Korea Evaluation Institute of Industrial Technology (KEIT), and the Korea Institute for Advancement of Technology (KIAT).
