3D Printing ProcessesMoney & FundingProduct Launch

Seoul to Spend $37 Million on 3D Printing Tech in 2017, Korea Times Reports

Stay up to date with everything that is happening in the wonderful world of AM via our LinkedIn community.

According to The Korea Times, South Korea’s Science Ministry announced that it will spend 41.2 billion won ($37 million) this year to develop core 3D printing expertise to nurture the fledging industry.

The 2017 budget will be spent on various 3D printing businesses to spur demand and strengthen national competitiveness, the Ministry of Science, ICT and Future Planning said.

The ministry aims to assist the military and industries to produce components through the 3D printing technology, as well as help the medical sector to produce artificial bones or rehabilitation devices using 3D printers.

“3D printing is the core technology that will bring about innovation in the manufacturing realm and create a new market by changing the paradigm of the industry,” Kang Seong-joo, an official from the ICT ministry, said. “It is important for ministries to cooperate to actively deal with the fast-changing global trend.”

Earlier, the government unveiled a list of emerging technology sectors, including 3D printing, in an aim to boost the local economy by securing intelligence information technologies that characterize the fast-paced industrial transformation, dubbed “the fourth industrial revolution.”

An industry report showed that the global 3D printing market is expected to reach $30.2 billion won by 2022, growing at an annual pace of 28.5 percent between 2016 and 2022.

Composites AM 2024

746 composites AM companies individually surveyed and studied. Core composites AM market generated over $785 million in 2023. Market expected to grow to $7.8 billion by 2033 at 25.8% CAGR. This new...


VoxelMatters is the online trade media portal published by 3dpbm, a leading marketing and market research firm specializing in the AM industry. 3dpbm also publishes the 3D Printing Business Directory, the AM Focus eBook series and the 3dpbm Research AM Market Reports. 3D Printing Media Network was founded with the goal to provide the latest industry news, insights and opinions to a global audience of professionals and decision makers.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close Popup
Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

Technical Cookies
In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services


Join our 12,000+ Professional community and get weekly AM industry insights straight to your inbox. Our editor-curated newsletter equips executives, engineers, and end-users with crucial updates, helping you stay ahead.