South Korea aims to become one of the top three manufacturers of light emitting diodes (LED) by 2012 by expanding facility investment and redoubling research efforts, the government said Thursday.
The plan calls for the government to allocate 400 billion won (US$383 million) for research and development (R&D) and infrastructure building in the cited period, the Ministry of Knowledge Economy said.
Local LED companies are already moving to invest 3 trillion won to upgrade and set up new production lines that will push up domestic output to US$9.0 billion, the ministry added.
At present the country produces $1.2 billion worth of LED products for both the domestic and export markets.
LEDs use 80 percent less power than conventional lights and are consequently more eco-friendly. Demand has been rising sharply for the product in recent year in such areas as information technology, digital appliances and medical equipment. They, however, are more expensive to buy.
"Government policy will be centered on creating markets by switching conventional lighting to LEDs in the public sector and then expanding this to gas stations, discount outlets and convenience stores that need to use lights continuously," said Lee Seung-woo, head of the ministry's information technology industry division.
He said plans are being made to use LEDs extensively for new cities built around the country, with R&D being focused on acquiring basic technology.
The official then said the government will help establish a 50 billion won LED purchasing fund in 2009 so more products can be bought and used as lighting.
Lee claimed that if the plan moves on schedule South Korea could have up to 1,000 dedicated LED companies that can help create 30,000 new positions by 2012.
