| Next Root Technology Development Project Preliminary Feasibility Study Passed
| Root technologies, manufacturing process technologies such as casting and molds
| Demand convergence in the automotive, machinery/heavy equipment, and electronics sectors

Last June, the 'Next Root Technology Development Project, a Manufacturing Innovation Base' passed the preliminary feasibility study for national R&D projects.

Accordingly, the Ministry of Trade, Industry and Energy announced that it will conduct a technology demand survey starting on the 22nd to plan research and development support projects for next year.

Root technology refers to manufacturing process technologies such as casting, mold making, plastic processing, welding, surface treatment, and heat treatment.

The Next Root Technology Development Project is an implementation initiative of the 'Plan to Create a Job Ecosystem for Root Industries' (reported to the Job Creation Committee in May 2018). It is being promoted as the 'Global Key Industry Quality Response Root Technology Development Project' to overcome the limitations of the domestic market for existing Korean root companies and facilitate their entry into global corporate value chains by developing root technologies that bridge the technological gap with leading global companies.

The scale of the preliminary feasibility study passed by the Ministry of Science and ICT is a total project cost of 177.3 billion won (124.8 billion won in state funds) and is a five-year project from 2020 to 2024.

The Ministry of Trade, Industry and Energy will conduct a technology demand survey through the Korea Institute for Industrial Technology Evaluation and Management, the dedicated agency, to plan support projects for next year, so that it can immediately support the research and development of root companies as soon as the 2020 budget is finalized by the National Assembly at the end of this year.>
Through this survey, the Ministry of Industry plans to gather actual technological demands from root companies and related academic and research institutes regarding 171 parts associated with 13 modules in three industrial sectors (automotive, machinery/heavy equipment, and electronics) that have a significant economic ripple effect on the root industry.

The survey period is from the 22nd to 6:00 PM on August 12th, and will be conducted on the industrial technology support site (itech.keit.re.kr).

An official from the Ministry of Trade, Industry and Energy stated, “We plan to continue providing support so that the root industries, which are the national foundational industries determining the quality and price competitiveness of key industries, can secure global competitiveness and develop into sustainable industries to support the leap to becoming one of the world’s top four manufacturing powerhouses.”