Gyeonggi Partners with Anyang City and KOPTI to Establish Innovative Foundation for XR Photonics

Createdd 2022-11-07 Hit 14

Contents

○ On November 4, Gyeonggi Province, Anyang City, and KOPTI signed an MOU to establish the foundation for industrial innovation (XR photonic components).
○ Establishment of XR Photonic Components Center in Anyang City to provide technical support to SMEs and foster related experts; expected to pioneer local government in metaverse
Gyeonggi Province will establish a foundation for cultivating experts so as to foster the future-driven XR photonic components industry.

On November 4, Gyeonggi Province Vice Governor for Economy Yeom Tae-young signed a business partnership MOU with Anyang City Mayor Choi Dae-ho and Korea Photonics Technology Institute (KOPTI) President Shin Yong-jin at the Gyeonggi Photonics Convergence Technology Center with the aim of establishing an industrial innovation foundation to support extended reality (XR) photonic components and devices. Attendees included National Assembly Member Kang Deuk-gu and CEOs of 9 other related companies.

According to the MOU, KOPTI will establish and operate the XR Photonic Components Center early next year. Gyeonggi Province and Anyang City plan to cooperate with KOPTI to lay a foundation for the technical support of small and medium-sized enterprises (SMEs) in photonic convergence fields in the province while also fostering XR photonic experts and leading enterprises through administrative and financial support.

Construction of the XR Photonic Components Center, which will be built in Dongan-gu of Gyeonggi Province’s Anyang City, will be realized through allocations of KRW 10 billion from the central government, KRW 2.65 billion from the provincial government, and KRW 2.65 billion (including space) from Anyang City over a span of five years through to 2026. The center will be equipped with devices, technologies, and a technical support team for the manufacture of photonic products, which are central to XR photonic components, and will be associated with other XR content demonstration centers for fast market entry.

The XR device market, exemplified by AR glasses being developed by Google and Microsoft, shows a high annual global growth rate of 48.3% and is expected to replace phones in the coming decade. However, many enterprises are facing obstacles in entering this new industry as those with less capital do not have a common foundation to support technology development and market entry.

In response, Gyeonggi Province secured KRW 10 billion from the central government upon being selected by the Ministry of Trade, Industry and Energy as a recipient of support for XR photonic component and module manufacturing in May.

Through this initiative, enterprises located in the province will be able to significantly reduce the test production procedures and time required while receiving customized technology support for market entry. Gyeonggi Province presented its plan to cultivate 600 XR photonic and optic experts over the next 10 years while increasing corporate inducement by 200% and sales by 130%, thereby strengthening its position as Korea’s leader in the XR photonic components industry.

Vice Governor Yeom said, “This cutting-edge XR photonics industry needs to be strategically fostered in terms of securing national technological competitiveness and future development… Gyeonggi Province is the largest base in Korea for the XR photonics industry and will work towards becoming a metaverse-leading local government.”

Mayor Choi said “It is gratifying that Anyang City can lay a foundation to foster the XR photonics industry, which is the core of Industry 4.0. Building a center is only a beginning… We will attract related enterprises and provide active support to foster the XR photonic industry, such as improved regulations and foundation establishment.”

KOPTI President Shin said, “The goal of this initiative is the establishment of an SME-support system based on the expertise of joint research and world-leading photonic convergence technologies.”

Founded in 2001, the Korea Photonics Technology Institute is a specialized production technology research center that engages in R&D for the energy, environmental, and self-driving vehicle sectors, as well as in the provision of technical support to SMEs.