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South Korea To Foster Titanium Industry
Apr 26, 2016

Business News Agency 04 13

Due to the slowdown in global demand, coupled with China's steel overcapacity, South Korea's steel industry is facing unprecedented difficulties, in order to seek development in the face of adversity, has begun to develop new materials.

At present, South Korea's iron and steel industry most concerned about new material is titanium metal, extracted from titanium stone and rutile, widely used in defense, aviation, medical treatment, equipment and other industries, compared with other metals, the base material of the strength and corrosion resistance is higher, was hailed as the "dream".

In fact, titanium value-added rate of 11 times higher than the aluminum, 42 times higher than the steel. In view of the above advantages, the high added value of titanium increases day by day. South Korean market demand in 2012 for 250 trillion won, is expected to increase to 600 trillion won in 2025, more than 2 times. Although titanium is already a promising new material in the world, but in South Korea, the relevant technology is still in its infancy.

South Korea imports about 1 trillion won from around the country, the United States, Japan and other countries have advanced technology, but also free to raise prices, in this case, South Korea is in a very passive position. In order to change this situation, the South Korean Ministry of industry in January last year, proposed the titanium industry development policy". According to this policy, before 2021 will vigorously develop titanium based materials, through the localization of aviation, medical components, jumped into the following the United States, Russia, China and Japan after the world fifth big titanium industry power. 

At present, North Gyeongsang province has become the base of titanium industry of South Korea, plays a vital role for the development of titanium industry of South Korea. Mainly through the Pohang iron in Kazakhstan UKTMP company imported titanium ingots, and then produce titanium plate, in addition, also produced a small amount of titanium bars, titanium wire and other products.

Although this is a relatively primitive processing products, but under the support of relevant policies, will help to enhance the overall competitiveness of the titanium industry in South korea. Compared with the high grade titanium ore, the reserves of low grade ores is 20 times higher, the price is only one of the four, South Korea plans from low grade ore production of titanium, through the development of the new technology, the basic production material costs will be lower than abroad more than 50%.

In order to achieve this goal, South Korea plans to invest 81 billion 800 million won in 2021, of which the government official 60 billion 300 million won, 21 billion 500 million won. South Korea's Ministry of industry through close cooperation between industry, will be a priority to develop the market demand from the new field. First of all, freshwater and seawater heat exchanger components, power station turbine blades, medical titanium alloy implant teeth and other areas of demand through "stepping stone bridge project" to achieve localization, each year will create 31.7 billion won benefits. In the medium and long term, the relevant departments are also planning to enter the high-end field of national defense aviation and other effective ways through technology development, application and practice, etc..

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