Support for Export of 6 Major 'K-Services', 4.6 Trillion Won to be Released by 2023 (Comprehensive Report 2)

Emergency Economic Central Disaster and Safety Countermeasures Meeting Announcement
Selection of Content, Medical and Healthcare Sectors
Establishment of Support Requirement Relaxation System in Q3
Discovery of Over 50 Future Promising Jobs
Focused Development to Resolve Youth Employment Issues

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, is delivering opening remarks at the '13th Emergency Economic Central Countermeasures Headquarters Meeting' held at the Government Seoul Office in Jongno-gu, Seoul on the 13th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporters Moon Chaeseok and Jang Sehee] The government has selected six major K-service industries and plans to invest 4.6 trillion won by 2023. To address youth employment issues, it will also discover over 50 promising future jobs such as cyber city analysts and highway controllers.

On the 13th, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, announced the 'K-Service Overseas Expansion Activation Plan' and the 'New Occupation Activation Plan' at the Emergency Economic Central Countermeasures Headquarters (Economic Central Headquarters) meeting.

First, the export support criteria, which have been centered on manufacturing, will be adjusted to suit service companies, and 4.6 trillion won in funding will be supplied by 2023. Through this, the government plans to raise service exports, currently ranked 16th globally, into the top 10 by 2025.

Specifically, the government selected ▲Content ▲Medical & Healthcare ▲Edutech ▲Digital Services ▲Fintech (Finance + Technology) ▲Engineering as the '6 Promising K-Services.' In the third quarter, the government will establish a 'Service Company Customized Research and Development (R&D) System' to relax support requirements such as sales volume.

The government also plans to discover and intensively nurture new occupational groups such as smart construction experts and future car maintenance technicians to create future jobs and support new industries.

As of last year, the number of occupations in South Korea was 16,891, which is fewer compared to the United States (30,653). Accordingly, the government plans to create more than 50 jobs through supplementing three already announced tasks, discovering additional promising new occupations, and reviewing potential new occupations.

Deputy Prime Minister Hong stated, "We have discovered 14 new occupations emerging with changes in future industries and demographic structures, such as smart construction experts and childcare management specialists, and we will also review introduction plans for more than 37 promising potential occupations."

He added, "The government will play a leading role by improving laws and systems, fostering professional manpower, and creating initial market demand."

Key new occupations arising from the Industrial Revolution and digital and green innovations, such as smart construction experts, convergence content creators, data visualization experts, future car maintenance technicians, green finance experts, and commerce creators, will be supported intensively.

With increasing care demands due to demographic changes, occupations such as childcare management specialists, refugee professional interpreters/translators, forest leisure instructors, and wood education experts will also be nurtured.

However, tasks with significant conflicts among stakeholders, such as certified detectives, digital funeral directors, and personal information protection specialists, will be reviewed mid- to long-term through research projects and meetings.