Hong Nam-ki: "Train 10,000 New Drug Experts by 2025... Two K-Semiconductor Infrastructure Projects to Undergo Preliminary Feasibility Study in Second Half"

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, Opening Remarks at the 11th Innovation Growth BIG3 Promotion Meeting

Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance. (Photo by Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok] The government aims to nurture 10,000 new drug experts by 2025 with the goal of becoming one of the world's top five new drug development powerhouses. It will also actively promote the preliminary feasibility study (PFS) related to the focused development of the K-semiconductor industry.

On the 10th, Deputy Prime Minister Hong stated in his opening remarks at the Innovation Growth BIG3 (system semiconductors, future cars, biohealth) promotion meeting held at the Government Seoul Office, "We have prepared measures to achieve the goal of becoming one of the world's top five clinical trial and new drug development countries by 2030 through preclinical stage smartization, establishment of clinical trial networks, and concentrated support for global clinical trials."

He added, "We will nurture 10,000 experts by 2025 and support companies by alleviating clinical trial cost burdens using 2.2 trillion won of pan-government new drug development R&D funds and bio-related policy funds. We will also establish a support base in Boston Bio Valley to systematically support clinical linkage and consulting for the U.S. market."

He also announced plans to actively promote the PFS related to K-semiconductor development in the second half of the year. Deputy Prime Minister Hong emphasized, "To seize the semiconductor big cycle as an opportunity and leap forward as a comprehensive semiconductor powerhouse, it is essential to promptly promote fiscal projects linked to large-scale corporate facility investments accordingly."

Accordingly, from the second half of this year, the government will initiate new PFS for two infrastructure expansion projects: the establishment of a mass-production testbed within the materials, parts, and equipment (SoBuJang) cluster, and the establishment of an advanced packaging platform in the central region.

Along with the large-scale manpower training project through public-private joint investment, the government plans to quickly complete the PFS procedures for three growth base reinforcement projects currently under PFS: PIM (Processing-In-Memory) AI semiconductor technology development, K-sensor technology development, and others.