Starting from the 4th, the 'Advanced Strategic Industry Act' will be enforced... The 1st Committee Meeting may be held as early as next month

'Special Act on National Advanced Strategic Industries' Enforced... Passed at Cabinet Meeting in January
First Committee Meeting Scheduled for September-October... First Designation of Advanced Strategic Technologies
Strengthening Support for Advanced Industries Including Semiconductors... Support for Infrastructure Construction Costs, etc.

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 a Cabinet meeting held at the Yongsan Presidential Office Building in Seoul on June 7, 2022. 2022.6.7 [Provided by the Presidential Office. Redistribution and DB prohibited]
jeong@yna.co.kr
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＜Copyright(c) Yonhap News Agency, Unauthorized reproduction and redistribution prohibited＞

[Asia Economy Sejong=Reporter Lee Junhyung] The 'National Advanced Strategic Industry Special Act' will be fully enforced starting from the 4th. The government plans to designate national advanced strategic technologies as early as next month.

According to the Ministry of Trade, Industry and Energy on the 3rd, the National Advanced Strategic Industry Special Act, which passed the Cabinet meeting in January, will be enforced on the 4th. Under the Special Act, the government will establish the 'National Advanced Strategic Industry Committee,' chaired by Prime Minister Han Deok-soo, as the highest decision-making body for strategic industry policies. The Ministry of Trade, Industry and Energy plans to hold the first committee meeting as early as next month after consultations with related ministries such as the Ministry of Economy and Finance.

From the 4th, when the Special Act is enforced, the Ministry of Trade, Industry and Energy will conduct a demand survey for designating national advanced strategic technologies for one to two weeks. At the first committee meeting, the ministry plans to promptly designate technologies that need protection as national advanced strategic technologies by comprehensively considering global conditions and industry demands. The ministry also plans to hold committee meetings quarterly or semi-annually to additionally designate national advanced strategic technologies.

Minister Lee Chang-yang Inspecting Semiconductor Material Production Facility
(Hwaseong=Yonhap News) Reporter Hong Gi-won = On the afternoon of the 21st of last month, Lee Chang-yang, Minister of Trade, Industry and Energy, is inspecting the semiconductor material production facility after attending the 'Semiconductor Industry-Academia Cooperation 4 Major Infrastructure Establishment Agreement Ceremony' held at Dongjin Semichem in Hwaseong-si, Gyeonggi-do. 2022.7.21
xanadu@yna.co.kr
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The national advanced strategic industry specialized complexes will be designated by January next year. Once the Special Act is enforced, the government can significantly strengthen corporate investment support through designation of specialized complexes, infrastructure support, and easing of core regulations. A representative example is the government's support for infrastructure construction costs such as roads and electricity supply facilities in the specialized complexes. Also, if companies in fields designated as national advanced strategic industries apply for regulatory improvements, the government must respond with review results within 15 days.

Specialized universities for education programs tailored to advanced strategic industries will also be designated as early as within this year. The Ministry of Trade, Industry and Energy plans to support part of the industry burden fees and student tuition for contract departments of specialized universities. The ministry is also considering expanding the enrollment capacity of departments related to advanced strategic industries.

Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy said, "The global competition for leadership in advanced industries such as semiconductors is shifting to a collective competition system where governments and companies jointly respond," adding, "The government will also strengthen joint responses with companies through the National Advanced Strategic Industry Special Act."

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