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"Full Effort to Foster Advanced Strategic Industries"... Government Finalizes Basic Plan for 550 Trillion Investment

'The 2nd National Advanced Strategic Industry Committee' Meeting Held
Bio Added to Existing 3 Advanced Strategic Industries (Semiconductor, Display, Secondary Battery)
17 National Advanced Strategic Technologies Designated in 4 Industries

The government has launched an all-out effort to foster national advanced strategic industries.


On the 26th at 2 p.m., the government held the 2nd National Advanced Strategic Industry Committee (hereinafter referred to as the Advanced Committee) at the Government Seoul Office, chaired by Prime Minister Han Duck-soo.


At this Advanced Committee meeting, amid intensifying global technological hegemony competition, the government established the "Basic Plan for Fostering and Protecting National Advanced Strategic Industries" and designated advanced strategic technologies and industries to maintain the competitiveness and super-gap of our advanced industries. This is the first statutory basic plan established since the enforcement of the "National Advanced Strategic Industry Act" in August last year.

"Full Effort to Foster Advanced Strategic Industries"... Government Finalizes Basic Plan for 550 Trillion Investment

The basic plan includes ensuring that more than 550 trillion won is invested in advanced industries by 2027 without delay, through early establishment of new national industrial complexes, regulatory reforms, and customized support by industry. Specifically, it plans to support corporate investment by promoting ▲ the permit timeout system ▲ the introduction of local government win-win belts ▲ Korea-style sector deals.


Additionally, to nurture advanced talents needed by the industry and secure core technologies in advanced industries, the government plans to enact the "Special Act on Advanced Talent Development" (tentative name), while intensively supporting R&D in advanced strategic technologies and expanding specialized universities (graduate schools), industry-specific academies, and in-house universities.


Joo Young-joon, Director of the Industrial Policy Office, said, "For national advanced strategic industries, investment amount, budget, technology, and location are important, but the most crucial factor is how well we secure core talents." He added, "We decided to enact the (Special Act on Advanced Talent Development) to create a framework for securing talents, and not only the government but also companies will be able to take the lead."


Furthermore, adding bio to the semiconductor, display, and secondary battery industries designated as advanced strategic industries at the 1st Advanced Committee last November, the government plans to support advanced industries in earnest by designating 17 national advanced strategic technologies across these four advanced industries. Going forward, through consultations with related ministries, the scope of advanced strategic industries will be expanded to include future cars, robots, and more.


Prime Minister Han Duck-soo emphasized, "We will provide comprehensive support for investment, infrastructure, and location for advanced industries, which are future growth engines and economic security assets, to leap forward as a global superpower and firmly protect economic security."


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