Deputy Minister Gi Jae: "682 Billion KRW Invested in Smart Green Industrial Complex... Additional Selection in March"

Government to Hold the 4th Innovation Growth Strategy Review and Policy Review Meeting on the 29th

[Asia Economy Reporter Jang Sehee] Kim Yongbeom, 1st Vice Minister of the Ministry of Economy and Finance, stated, "This year, up to three additional Smart Green Industrial Complexes will be selected by March, and 682 billion KRW will be invested to accelerate the project."

At the '4th Innovation Growth Strategy Review Meeting and Policy Review Meeting' held at the Government Seoul Office on the 29th, Vice Minister Kim said, "We will digitalize the entire value chain including design, planning, production, and distribution according to the characteristics of each industrial complex, and transform them into low-carbon and eco-friendly spaces through investments in renewable energy facilities such as hydrogen fuel cells and solar power."

Accordingly, the government plans to support Smart Green Industrial Complexes to grow as region-led innovation hubs by having local governments establish comprehensive plans and providing package support including budgets.

During the meeting, opinions were also exchanged regarding the 'Direction for Establishing a Pan-Ministerial Carbon Neutral R&D Promotion Strategy.'

Vice Minister Kim emphasized, "Developing low-carbon technologies is the most cost-effective game changer in the long term," adding, "Technology development and investment are crucial to solving the era-defining challenge of carbon neutrality, and if technology commercialization is successful, our competitiveness can leap forward instantly."

He stated, "Since developing carbon-neutral technologies is a challenge difficult to achieve by individual companies or specific industries alone, we will form a joint platform with industry and research institutions to make national efforts," and promised, "The government will also select 10 core technologies across ministries and support regulatory relaxation and institutional improvements."

Regarding the 4th quarter growth rate of 2020 (-1.0%), Vice Minister Kim said, "The crisis management capability seems to have led to a good evaluation of resilience this year," and added, "The government will steadily prepare to strengthen the resilience of our economy so that the recovery of daily life proceeds without difficulty."

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