Gov’t to promote carbon fiber as national strategic industry
Aug. 23, 2019
Global Korean Post
By Lee Kyoung Mi and Kim Minji
President Moon Jae-in on Aug. 20 pledged to help foster carbon fiber as a national strategic industry.
In a signing ceremony for new investment in carbon fiber at a carbon fiber factory of Hyosung Advanced Materials Corp. in Jeonju, Jeollabuk-do Province, he pledged the government’s strong support by saying, “Carbon fiber will replace iron as the core material of the future manufacturing industry.”
Carbon fiber can be applied to all sectors that use iron including finishing materials and equipment for cars, architectural stiffeners, and the sports leisure, aerospace and future industries. Called the “dream advanced material,” carbon fiber has a fourth of iron’s weight but is ten times stronger.
The president said, “For the sustainable growth of our economy, we need new growth engines,” naming the hydrogen economy and carbon fiber as candidates.
He also promised his administration’s “firm” support to make the nation’s industrial structure more independent by investing KRW 7 trillion to 8 trillion in 100 key strategic items including carbon fiber for seven years, as well as easing restrictions on finance, tax and banking and boosting the training of experts.
After the ceremony, President Moon visited sites of factory expansion and the operating production lines of plants to inspect the manufacturing process of carbon fiber and hydrogen storage containers using the material.