WPM project’s phase 2 performance exhibition held at COEX

Ministry of Trade, Industry and Energy (MOTIE) recently held World Premier Materials (WPM) project’s phase 2 performance exhibition at COEX.

Won-Joo Park, Industrial policy director of MOTIE, stated in his congratulatory message that “In response to the industrial trends of going towards intelligence, mobility and energy efficiency, WPM project will provide optimum material solutions, hopefully enhancing the competitiveness of our industry.”

Aiming to jump up to become world’s top 4 material powers, WPM project plan to develop 10 core materials including ultra-light magnesium material, premium ketone, flexible display substrate material, nano-carbon composite material, intelligent membrane material, high-performance secondary battery material, bio-medical material, ultrapure SiC material, super sapphire monocrystal material, etc. Having started in 2010, the big technology development project centers on the 10 project groups, with around 200 companies and research institutes participating in it.

▲‘Ultra-light magnesium material’ project group showcased magnesium sheet for car, which is stronger than but weighs only 25% of that of steel.

In consideration of the characteristically long period required for material development, the project is to be progressed in 3 phases: Phase 1 for the development of core technologies (from 2010 to 2012), phase 2 for application technologies (from 2013 to 2015) and phase 3 for promotion of commercialization (from 2016 to 2018). Full-scale commercialization of the project is to begin from this year.

According to survey by Korea Evaluation Institute of Industrial Technology (KEIT), WPM project achieved 1,776 patent applications, 415 patent registrations and 5,120 new employments so far. If its phase 3 project proceeds according to plan, the WPM project is expected to contribute to job creation and expansion of private investment in the field of new materials.