“Nine Ministries Acting as One”... Ultra-Innovation Economy Task Force Launched as Control Tower for Economic Leap Forward

Overseeing 15 Leading Projects
Providing “Full Package” Support from K-Bio to the Space Industry

The government has officially launched the “Ultra-Innovation Economy Task Force” to secure leadership in future industries and drive a new economic leap forward. It is not just a simple inter-ministerial consultative body, but an organization with strong execution power jointly participated in by nine government ministries. With the launch of this task force, the government’s “15 Leading Projects for the Ultra-Innovation Economy,” announced last year, are expected to enter full swing.

Signboard of the Ministry of Finance and Economy building. Yonhap News.

The Ministry of Finance and Economy announced on the 20th that the “Ultra-Innovation Economy Task Force,” which is a reorganization of the existing “New Growth Strategy Planning Task Force,” has been officially launched. The task force is a large organization in which nine ministries participate, including the Ministry of Finance and Economy and the Ministry of Science and ICT at the forefront, as well as the Ministry of the Interior and Safety, the Ministry of Culture, Sports and Tourism, the Ministry of Trade, Industry and Energy, the Ministry of Health and Welfare, the Ministry of Environment, the Ministry of Land, Infrastructure and Transport, and the Ministry of SMEs and Startups.

The core of this reorganization is being “field-oriented.” The plan is not to stop at simply formulating policies, but to identify in real time the regulations and funding difficulties that companies face on the ground and provide a “full package” solution that encompasses fiscal, tax, and financial support, as well as talent development.

The task force will oversee and manage the 15 leading projects set out in the “New Government Economic Growth Strategy.” A look at each field clearly reveals where the government is placing emphasis. A representative example is “K-Bio and Pharmaceuticals (AI Bio).” The government will establish industrial-academic-research-medical hubs for artificial intelligence (AI) bio and directly oversee the global commercialization of innovative new drugs, including Phase 3 clinical trials. It will also accelerate the space industry, including the development of ultra-high-resolution satellites with a resolution of around 10 centimeters.

Currently, the Ultra-Innovation Economy Task Force is operating company-centered working-level consultative bodies for each project to gather opinions from the field. Recently, Deputy Prime Minister and Minister of Finance and Economy Koo Yooncheol visited DB Hitek, a next-generation power semiconductor company that serves as a base for realizing the ultra-innovation economy, as his first step in “performance-centered economic management,” and held a policy meeting with executives and employees.

Deputy Prime Minister Koo emphasized that “the core of economic policy in 2026 is ‘the field’ and ‘performance’,” and stated, “From now on, we will concentrate our policy capabilities around the Ultra-Innovation Economy Task Force so that this leads to tangible changes that the public can truly feel.”

This content was produced with the assistance of AI translation services.