Hong Nam-ki: "12 Hydrogen Refueling Stations This Year, Over 110 Next Year" (Update)

"Focus on Identifying 200 Hydrogen Refueling Station Sites Next Year"
"Preferential Tax Credit Applied to Advanced Semiconductor R&D Expenses"

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, is presiding over the "1st Innovation Growth BIG3 (System Semiconductor, Biohealth, Future Car) Promotion Meeting" at the Government Seoul Office Building on the 21st.

[Asia Economy Reporter Kwangho Lee] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, stated on the 21st, "We will complete up to 12 additional hydrogen charging stations within this year and take all possible administrative measures such as expanding inspection personnel and shortening procedures to ensure that a total of more than 110 stations are established by the first half of next year."

On the same day, Hong held the '1st Innovation Growth BIG3 (System Semiconductor, Biohealth, Future Car) Promotion Meeting' at the Government Seoul Office and said, "For the spread of eco-friendly vehicles, the establishment of charging infrastructure is the most important and urgent matter."

Hong emphasized, "To secure sites for charging stations, we will first identify and finalize 10 candidate sites in six cities and provinces including Gangwon and Gyeonggi among state-owned lands, and promptly proceed with site sale procedures. Additionally, we will focus on discovering about 200 possible sites for hydrogen charging stations next year, including idle lands owned by public institutions, gas stations, and LPG charging stations."

He added, "We will also actively promote regulatory relaxation for hydrogen charging stations in development-restricted areas, adjustment of licensing authority, introduction of special exceptions for charging station construction, and support for hydrogen fuel purchase costs of about 90 million KRW per operating deficit charging station."

During the meeting, government investment support plans to back large-scale investment plans in the system semiconductor industry were also discussed.

Hong mentioned, "Regarding recent investments in semiconductor production facility construction, we are consulting with local governments to ensure that related infrastructure (such as water supply and wastewater treatment) is established promptly."

He further explained, "We will add advanced semiconductor R&D investment to the Special Tax Treatment Control Law’s new growth and core technologies category to apply preferential tax credits for R&D expenses. Considering that system semiconductor items are included in the investment guidelines of the policy-type New Deal Fund, which will be fully established from next year, we will support the necessary procedures."

Regarding biohealth regulatory innovation, he stated, "This year, there have been significant regulatory reforms such as expanding the scope of gene therapy research and establishing guidelines for the use of healthcare data. We will continue these reform efforts going forward."

He also said, "Additionally, for combination products of pharmaceuticals and medical devices, we will improve five on-site discovered regulations first, such as omitting GMP evaluation reviews for medical devices that have already been approved."

In conclusion, Hong Nam-ki said, "We will focus on fostering the BIG3 industries with the goal of establishing a foundation for system semiconductors to become the world’s number one in the foundry sector, making future cars a world-leading producer of electric hydrogen vehicles, and nurturing 'K-Bio' as one of the top five export industries in biohealth, ultimately aiming to secure world number one competitiveness in the BIG3 industries."

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