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The ecosystem for micro light emitting diode (LED) ecosystem will be established, which is considered as a next-generation display. The Korea Display Industry Association announced that it was selected for the 'Industry Innovation Foundation Construction Project' to foster the microLED industry supported by the Ministry of Trade, Industry and Energy.
This project is to build Korean microLED industry ecosystem. A total budget of 18.3 billion KRW will be provided for five years from this year until the end of 2026. There are 4 organizations participating: Electronic Display Industrial Research Association of Korea, Korea Photonics Technology Institute, Korea Electronics Technology Institute, and Korea AutomotiveTechnology Institute.
In Korea, microLED technology development is being carried out from large companies and parts makers. However, there are limits in infrastructure of the commercialization of domestic microLED, therefore, the industry is experiencing difficulties. The Association is expecting that this project selection would build a new ecosystem for the microLED display industry.
MicroLED is a self-luminous device that has high luminous efficiency. It is attracting attention as a next-generation display because it has a long lifespan, excellent operation stability, and can be expanded without size limitation. However, China and Taiwan are ahead of Korea in this field.
Especially for China, they are emerging as the largest producer of LED light sources by expanding national infrastructure investment. They are leading the microLED industry with their domestic liquid crystal display (LCD) and organic light emitting diode (OLED) companies.
An official from the Association said, "It will be a new opportunity to overtake LED competitors such as China and Taiwan."
The host organization of the project,Korea Photonics Technology Institute, will establish cooperation hub centers in Gyeonggi and Gwangju. A total of 18 types of equipment will be in the center to support various process services. It will strengthen the technological competitiveness of small and medium-sized enterprises by supporting microLED prototype production and performance test evaluation. The Association plans to support microLED companies with corporate consulting, patent development, and product commercialization strategy programs.
Dong-wookLee, Vice Chairman of the Korea Display Industry Association, said, “Through the microLED industry innovation foundation construction project supported by Ministry of Trade, Industry and Energy, we are expecting to prepare a turning point for the development of the domestic microLED industry. We will establish a new ecosystem to overcome our competitive countries through supporting domestic companies.”