Samsung Electronics Co. and LG Electronics Inc. will take part in a government-private research program to develop next-generation thin-film solar cells, officials said Tuesday.

The program is one of the five research and development efforts to be pursued by the government and private sector up until 2013 at a cost of 700 billion won ($648 million), the Ministry of Knowledge Economy said.

Samsung and LG ― Korea’s top two electronics companies ― will seek to develop super-thin photovoltaic materials that can be placed over glass, metal and polymer-based substrates to produce electricity, the ministry said.

Such films are usually less than a micrometer thick and can be used on various mobile products and contribute to energy conservation. A micrometer is one-millionth of a meter.

The ministry added that the development of film solar cells is important since the global market is expected to grow by 30 percent annually in the coming years. It is expected to reach 12 trillion won in 2015 and 27 trillion won in 2020.

“The arrangement is expected to fuel cooperation and bolster development efforts in the key industrial fields, as well as lay the foundation for more tie-ups down the road,” a ministry official said.

Besides Samsung and LG, Dongjin Semichem will take part in the development of new cells.

The ministry also said funds will be injected into the development of new medicine using natural materials, information technology integration, next-generation transportation technologies and so-called micro-energy grids.

These programs, which are expected to receive final state approval in July, are being pursued to forge close cooperation between large conglomerates and small and medium-size enterprises in cutting-edge fields.

Of the total spending, 350 billion won will come from state coffers, with the rest to be generated by the 215 participating private companies, laboratories and universities, the ministry said. 

(Yonhap News)