Launch of Pan-Government New Industry Strategy Support TF: "Discovering and Supporting Technology-Based New Industries"

Lee Eok-won, First Vice Minister of the Ministry of Economy and Finance, presiding over the 'New Industry Strategy Support TF Kickoff Meeting' at the Government Seoul Office in Gwanghwamun, Seoul, on the 9th. (Photo by Ministry of Economy and Finance)

[Sejong=Asia Economy Reporter Moon Chaeseok] On the 9th, the government held a kickoff meeting for the 'New Industry Strategic Support Task Force (TF)' chaired by Lee Okwon, the 1st Vice Minister of Strategy and Finance, at the Government Seoul Office to discuss the TF operation plan.

The TF was established at the inter-ministerial level to discover and support technology-based new industries in response to rapid changes in social and economic structures and technologies accelerated by COVID-19 and the carbon neutrality declaration.

The TF decided to identify target industries for support by considering private investment directions, socio-economic ripple effects, growth potential, and competitiveness. Based on analyses of the technological level and market conditions of each new industry, the TF plans to promote the most necessary 'core projects' to foster those industries.

During the operation process, the TF intends to promote proactive innovation led by the private sector. The government will actively support this by maintaining constant communication with the private sector through policy councils such as the Korea Chamber of Commerce and Industry.

The lead ministries for the five working groups in the fields of cloud, blockchain, intelligent robots, digital healthcare, and metaverse announced detailed operation plans. Each working group, composed of a first-level official (team leader) from the lead ministry, related ministries, and research institutions, will hold 1 to 2 meetings within this month to collect policy opinions, prepare measures, and then proceed with implementation.

A Ministry of Strategy and Finance official stated, "The industry strategies and core tasks discovered through the TF will be sequentially announced through the Innovation Growth Strategy Meeting."

Formation of New Industry Strategy Support TF (Draft). (Data=Ministry of Economy and Finance)

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