Hong Nam-ki: "BIG3 Industries to Implement Special Development Measures Comparable to 'SoBuJang Measures'" (Update)

Establishment of the 'Innovation Growth BIG 3 Promotion Meeting'... Held Biweekly

Focused Support on Fiscal, Financial, and Tax Policies · Revolutionary Deregulation · Creation of Vertical and Horizontal Cooperation Ecosystems among Companies · Infrastructure Establishment for BIG 3 Industries
To Revitalize the White Bio Industry, Develop Bio-Plastic Products Suitable for Short-Term Commercialization
Introduction of 'Appropriate Pricing Calculation and Differential Scoring System for Technical Evaluation' in Public Software Projects

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki is delivering opening remarks while presiding over the '5th Innovation Growth Strategy Meeting' held on the 3rd at the Government Seoul Office in Gwanghwamun, Seoul.

[Asia Economy Report by Joo Sang-don (Sejong) and Jang Se-hee] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, announced on the 3rd, "We will implement special nurturing measures for the so-called 'BIG3' industries?system semiconductors, future cars, and bio-health?comparable to last year's 'Materials, Parts, and Equipment Measures.'"

On this day, Deputy Prime Minister Hong presided over the '5th Innovation Growth Strategy Meeting and the 43rd Economic Ministers' Meeting' at the Government Seoul Office, discussing the 'Innovation Growth BIG3 Industry Focused Development Plan' containing these details.

So far, the government has pursued the BIG3 industry development strategy through the '4+1 policy' which includes ▲ fostering new industries and new markets ▲ integrating innovation into existing industries ▲ supporting science and technology ▲ supplying innovative talent and innovative finance ▲ strengthening innovation infrastructure (systems and infrastructure). In addition, a separate public-private joint meeting body for focused inspection and nurturing of the BIG3 industries will be held biweekly as a small-scale innovation growth strategy meeting called the 'Innovation Growth BIG 3 Promotion Meeting.' The Deputy Prime Minister will serve as chairman and plans to hold the first meeting in mid-month. Furthermore, to achieve visible innovation growth results in the BIG3 industries, the government will actively pursue ▲ focused support on fiscal, financial, and tax policies ▲ revolutionary deregulation ▲ creation of vertical and horizontal cooperation ecosystems among companies ▲ infrastructure establishment for the BIG 3 industries.

Industry-specific short- and long-term goals were also presented. For system semiconductors, the goal is to "lay the foundation to become the world’s number one in the foundry sector," aiming for a global foundry market share of 18% and fabless market share of 2% by 2022, and 25% and 5% respectively by 2025. For future cars, the goal is to "become a world-leading producer of electric and hydrogen vehicles," targeting the distribution of 380,000 future cars and a 10% export ratio by 2022, and 1.33 million units and 20% export ratio by 2025. For bio-health, the goal is to achieve $20 billion in exports and a 3% global market share by 2022, expanding to $30 billion and 4.2% by 2025.

The meeting also discussed the 'White Bio Industry Revitalization Strategy.' At this session, three major promotion strategies were established: ▲ development and distribution of bio-plastics ▲ increasing the added value of white bio ▲ support for commercialization and business development. Deputy Prime Minister Hong stated, "We will develop 15 types of bio-plastic products such as packaging materials that can be commercialized in the short term," and explained, "We will also build infrastructure to commercialize ideas through the Bio-Chemical Materials Certification Center and the Bio Convergence Materials Industrialization Support Center."

The government recently formulated a 'Software Promotion Execution Strategy' in response to the acceleration of digital transformation and the shift to a non-face-to-face economy. To ensure 'fair pricing' throughout all stages of public software projects?from contract to execution to post-management?the government plans to improve contract systems by introducing appropriate pricing calculation and a differential scoring system for technical evaluation by the end of this year. It will also strengthen project management and supervision by expanding subcontracting oversight and preventing unfair acts by ordering parties. To establish a foundation for software growth, the government aims to nurture 100,000 core talents by 2025 through AI graduate schools and software-centered universities, support software education for elementary, middle schools, and the entire population through AI leading schools (500 schools in 2021) and SW Future Filling Centers (10 centers), and enhance R&D support.

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