[Changes in the Second Half of 2022] Enforcement of the 'Advanced Strategic Industry Act' from August... Focused Support for Core Technologies

Establishment of the 'Advanced Strategic Industry Committee'... Support for Workforce Development and More

President Yoon Seok-yeol Examining a Photomask
(Seoul=Yonhap News) President Yoon Seok-yeol is looking at a semiconductor photomask received from Minister Lee Jong-ho of the Ministry of Science and ICT during the Cabinet meeting held at the Yongsan Presidential Office Building in Seoul on June 7. 2022.6.7 [Provided by the Presidential Office. Redistribution and DB reproduction prohibited]
Photo by Jeong@yna.co.kr
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[Asia Economy Sejong=Reporter Lee Junhyung] The government will strengthen policies for fostering and protecting advanced technologies starting from August.

The government published a booklet titled 'Changes Starting from the Second Half of 2022' on the 30th. This booklet provides an easy-to-understand summary of the systems and laws that will change from the second half of this year.

First, the government will establish a committee chaired by the Prime Minister under the 'Special Act on National Advanced Strategic Industries,' which will take effect on August 4. The committee plans to designate core technologies such as semiconductors as national advanced strategic technologies around September to October.

The government intends to provide comprehensive support for fostering advanced strategic technologies. A representative measure is a package support plan for corporate investments including permits and infrastructure. The government will also support the training of personnel related to advanced strategic technologies through the establishment of contract departments and specialized universities. The foundation to protect advanced strategic technologies and personnel from the perspectives of national interest and economic security will also be strengthened.

Regulatory improvements related to advanced strategic technologies will be actively pursued. The government plans to mandate export and merger & acquisition (M&A) approvals exclusively for advanced strategic technologies and introduce a system for designating specialized personnel.

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