[Budget Proposal Address] Yoon Aims to Strengthen Economic Foundation Through Support for Core Strategic Technologies

"Fostering Advanced Strategic Industries and Science Technology"... Commitment to Invest 1 Trillion Won in Semiconductors and 4.9 Trillion Won in Quantum Computers, etc.

President Yoon Suk-yeol is entering the plenary session hall on the 25th to deliver the budget address for the next year. The Democratic Party of Korea has defined the prosecution's investigation into Daejang-dong as political retaliation and boycotted President Yoon's budget address. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Bae Kyunghwan] President Yoon Seok-yeol announced that through next year's budget, structured on a sound fiscal policy, he will focus on supporting the private sector-led economic fields. This means strengthening the shaky economic foundation through support for core strategic technologies.

On the morning of the 25th, during the 2023 budget address at the National Assembly, President Yoon stated, "We will foster advanced strategic industries and science and technology, and support small and venture businesses," adding, "We will establish a new growth foundation."

First, he emphasized that more than 1 trillion won will be concentrated on specialized workforce training, research and development, and infrastructure construction to maintain the super-gap in memory semiconductors and secure competitiveness in system semiconductors.

President Yoon said, "Restoring the collapsed nuclear power ecosystem is urgent," and added, "We will actively support nuclear power plant exports and support research and development of next-generation technologies such as small modular reactors (SMR) and nuclear power plant decommissioning technologies." He also revealed plans to invest a total of 4.9 trillion won in R&D to secure core strategic technologies and future technology markets, including quantum computing, aerospace, artificial intelligence, and advanced bio.

He also emphasized support for private investment-led startups. President Yoon said, "We will expand support for venture companies and startups and invest 3.6 trillion won in innovation projects such as smartization support and research and development for small and medium-sized enterprises."

In addition, President Yoon stated, "We will inject additional finances into debt adjustment and rehabilitation support so that small business owners can completely recover from the impact of COVID-19 and thrive again," and added, "We will provide a package including farming settlement support funds for young farmers, customized farmland, and financial support to lead agricultural innovation."

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