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Gov't to Develop High-end Everyday Products

Written: 2016-07-28 18:27:43Updated: 2016-08-03 09:15:20

The government will invest some 30 billion won in research and development(R&D) next year to upgrade the quality of everyday goods and equipment.

The Ministry of Trade, Industry and Energy said Thursday that the envisioned R&D investment is double this year's amount and will cover items in seven categories — furniture, bags, kitchen utensils, stationery, sports and leisure goods, glasses and clocks and watches.

The government will also invest 200 billion won by 2021 for the development of higher value-added materials and merchandise related to fashion and apparel.

The amount will be injected into five key areas including an enhanced capacity of designers, use of new distribution platforms and fostering a cooperative industrial environment.

By 2020, the government seeks to foster 200 up-and-coming designers and cultivate conditions in production and commercialization to allow novice designers to launch startups.

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