Iron Devices has been selected as a joint research and development institution for a national project to develop power module technology for electric vehicles, organized by the Korea Evaluation Institute of Industrial Technology (KEIT) under the Ministry of Trade, Industry and Energy.

According to a voluntary disclosure by Iron Devices on the 15th, the company will jointly carry out the '2026 Automotive Industry Technology Development (R&D) — Development of Drive Circuit-Integrated Power Module Technology for Electric Vehicles' project. The R&D period for the project is a total of 45 months, from April 1, 2026 to December 31, 2029.

This project involves the lead research institution Semipowerlex, along with the Seoul National University Industry Cooperation Foundation, Iron Devices, the Korea Automotive Research Institute, the Korea Electronics Technology Institute, and the Hanyang University Industry Cooperation Foundation. The total project budget is 8.34 billion won, of which 7.299 billion won is government-funded R&D support.

Notably, the government-funded R&D budget allocated to Iron Devices amounts to 1.35 billion won, which is equivalent to 5.07% of the company's equity capital (26.64497478 billion won). The core development goal of this project is the 'development of a drive circuit-integrated Full-Bridge 650V GaN module.'

Meanwhile, the company explained that the R&D period and project budget may be subject to change depending on the future progress of the project and government budget conditions, and that the decision (confirmation) date stated in the disclosure refers to the actual date of contract execution.