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[Alpha Biz=(Chicago) Reporter Paul Lee] The government, along with major companies, is set to "reclaim the world's No. 1 display market share."

Keep the world top from 2004 to 2020 It is the first time in two years since it was pushed back by China in 2021 that it has declared 're-conquerion'. The target time for the top recapture is 2027.

Until then, the industry will invest more than 65 trillion won in the domestic display industry. The government has decided to support corporate investment by mobilizing all available policies.

The government held a "Display Industry Innovation Strategy Roundtable Meeting" presided over by Minister of Trade, Industry and Energy Lee Chang-yang on the 18th and announced its "Display Industry Innovation Strategy."

According to the Ministry of Industry, Korea has been the world's No. 1 display market for 17 years, beating Japan in 2004. However, in 2021, it lost the first place to China and was pushed to second place. At that time, China targeted the global market, focusing on liquid crystal displays (LCDs) with relatively low added value.

"The display is a key industry that is driving innovation in the information and communication technology (ICT) market," the Ministry of Trade, Industry and Energy said. "As the pursuit of competitors is intensifying, we will push for related measures to recapture the world's top spot by 2027."

First of all, major domestic companies such as Samsung Display and LG Display have decided to invest more than 65 trillion won in research and development (R&D) of next-generation displays by expanding organic light emitting diode (OLED) production lines for information technology (IT) by 2027.

The government will push for improved taxation, policy financing, infrastructure and regulations to help private investment be implemented in a timely manner.

 

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