South Korea will invest 22 billion won in OLED lighting industry

Recently, the Korean Ministry of Industry and Trade announced that it will launch an OLED lighting industry support program, called “OLED lighting industry cluster construction project”, this project will be started from the end of September 2014 and last for five-years, it plans to invest the amount of 22 billion won (about 21.51 million U.S. dollars).

South Korea plans to promote industrial development and enhance the global competitiveness of the OLED industry through the up and downstream supply chain. The program covers items: OLED material, light source, the components and module system.

In order to encourage the commercialization of OLED products, the project also supports testing and evaluation for OLED lighting technology and products, including the evaluation of product performance and safety, and it will also set the domestic and international standards.

In addition, the government may increase about 25% of total project investment, that is, the total investment amount may up to 30 billion won (about 29.34 million U.S. dollars), of course, this also depends on the number of participating vendors.