On the 1st, the 4th Innovation Growth BIG3 Promotion Meeting Held
Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, is speaking at the 4th Innovation Growth BIG3 (Future Cars, Bio Health, System Semiconductors) Promotion Meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 1st. Photo by Moon Ho-nam munonam@
[Asia Economy Reporter Moon Chaeseok] Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki announced on the 1st, "We will install 43 ultra-fast electric vehicle chargers that take 20 minutes to fully charge for the first time in the public sector, and support automobile companies to install more than 80 chargers on their own."
On the same day, Deputy Prime Minister Hong held the 'Big 3 Innovation Growth Promotion Meeting' at the Government Seoul Office and said, "We have prepared a plan to achieve early realization of creating a charging environment more convenient than gas stations."
The Big 3 industries refer to future cars, system semiconductors, and bio-health, which have high growth potential and profitability.
Private sector experts such as Lee Seok-woo, CEO of Penta Security Systems, Choi Chang-sik, Vice Chairman of DB HiTek, Muk Hyun-sang, Director of the National New Drug Development Foundation, and Lee Young-min, President of Korea Venture Investment, attended the meeting.
Since the first meeting on December 21 last year, achievements include the additional construction of 13 hydrogen charging stations (total 73) and the signing of a win-win agreement for the creation of the Yongin semiconductor cluster on the 11th.
Deputy Prime Minister Hong emphasized, "To focus on nurturing the Big 3 industries this year, the government plans to mobilize all policy capabilities it can, including fiscal, tax, financial support, and regulatory reforms, centered on this meeting."
The core agenda of the day was the expansion of electric vehicle infrastructure. Under the awareness that consumers hesitate to purchase electric vehicles due to a lack of charging stations, he diagnosed that "significantly reducing charging time is especially urgent."
Deputy Prime Minister Hong explained, "Aiming to create a charging environment more convenient than gas stations, we will expand 3,000 fast chargers this year. The public sector will take the lead by directly installing 2,280 chargers this year, and support private operators to install 289 chargers in profitable locations."
He added, "We also plan to install 300 chargers at existing gas stations, which drivers can conveniently use, by supporting the installation costs."
What stands out is the announcement to promptly establish ultra-fast charging infrastructure that reduces charging time from 1 to 9 hours to 20 minutes.
Deputy Prime Minister Hong said, "We will actively support power supply, site acquisition, and construction so that the public sector can install 43 ultra-fast chargers for the first time, and automobile companies can install more than 80 chargers on their own."
Additionally, a new semiconductor fabless challenge-type demand-linked research and development (R&D) program was discussed, providing up to 5.5 billion KRW per company over three years to six companies.
Furthermore, 87.8 billion KRW will be invested by 2024 to conduct R&D for the localization of 16 bio materials, parts, and equipment items.
Moreover, regarding patent disputes, about 100 IP R&D support projects will be discovered this year to assist companies. A dedicated patent examination department for the Big 3 industries will be operated.
Support for overseas patent application costs for small and medium-sized enterprises will increase from 1.5 billion KRW and 135 companies last year to 1.7 billion KRW and 195 companies this year.
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