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South Korea supports the OLED lighting industry and plans to invest nearly 30 billion won

According to Korean media reports, the Ministry of Industry, Trade and Energy (MOTIE) of South Korea recently announced that it will launch an OLED lighting industry support plan called the "OLED Lighting Industry Cluster Construction Project". The project will be launched at the end of September 2014 for a period of five years, with a planned investment amount of 22 billion won (approximately RMB 133 million).
Reports show that South Korea plans to promote industrial development and enhance the global competitiveness of the industry through the upstream and downstream supply chain network of the OLED industry. The project coverage includes OLED materials, light sources, components and module systems.
To encourage the commercialization of OLED products, the project also supports the testing and evaluation of OLED lighting technologies and products, and sets domestic and international standards, including the performance, safety and evaluation of OLED lighting products.
In addition, the government may increase project investment by about 25%, which means that the total investment amount of the project can reach up to 30 billion won (approximately RMB 181 million). Of course, this also depends on the number of participating manufacturers.
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