S. Korea should lessen dependence of core materials from “specific nation”, says Moon,

S. Korea should lessen dependence of core materials from “specific nation”, says Moon,


President Moon Jae-in says the nation should
lessen its dependence of core materials from certain countries,… calling on the nation
to ramp up its efforts to localize the supply of high-tech materials- amid the ongoing trade
row with Japan. And he took a trip to a carbon fiber production
line in Jeollabuk-do Province,… one of the key materials in making hydrogen energy technology
crucial in the era of Fourth Industrial Revolution. Shin Se-min reports. President Moon Jae-in said the country needs
to depend less on “specific nations” when it comes to core materials, adding that this
is the way to become an “unshakable” economic powerhouse. “In order to become a responsible economic
powerhouse, we should lessen our dependence on core materials from certain countries. It all starts now. We can demonstrate the strength of South Korea
as a manufacturing powerhouse.” While attending an event orchestrated by Hyosung
Advanced Materials, the president promised to nurture the nation’s carbon fiber industry,
in light of Hyosung Group’s announcement that it will invest a total of 1-trillion won,
or over 827-million dollars in its production line of carbon fiber plant by the year 2028. Hyosung says the expansion of the production
line in Jeonju, Jeollabuk-do Province, will place it as the world’s number-3 carbon fiber
producer. And the group’s carbon fiber business plans
to churn out 24-thousand tons of carbon fiber every year at 10 production lines starting
2028. This material in particular,… with one-fourth
the weight of steel, but 10 times stronger,… is a key element for the hydrogen energy market
which in turn feeds the automobile, aerospace and defense industries. Carbon fiber is also one of the items potentially
subject to Japan’s tighter export controls against South Korea. The conglomerate, being the first home-grown
company to develop carbon fibers in 2011, helped make South Korea the fourth country
to cultivate such technology after Japan, the U.S. and Germany. However much of the nation’s auto industry
has been relying on Japan-made carbon fiber for production of fuel storage tanks. The president’s visit to Hyosung plant on
Tuesday is seen as part of his determined drive to up the nation’s competitiveness in
the high-tech materials industry amid an downgrading trade relations with Japan. Moon, urging local companies to join in on
fostering homegrown technologies,…promised to support with investments and review possibilities
of imbuing preliminary assessment for R&D firms in need of self-reliance. Shin Se-min, Arirang News.

2 comments

  1. This trade war may be a blessing in disguise. In that South Korea will use this period of uncertainty to be innovative which will move it up the ranks of countries with advanced economies. Hwaiting!

  2. Didnt you say you FOUND! a new supplier? Or can make it yourself? When? The possibility? Or is it Just trash talk again?

Leave a Reply

Your email address will not be published. Required fields are marked *