Bang Gi-seon Vice Minister: "Priority Fiscal Support Needed for Private Investment Leading Projects"

4th Meeting of the New Growth Strategy Task Force (TF) on the 24th
"Financial Support Is Essential for Achieving Results"

Bang Gi-seon, First Vice Minister of the Ministry of Economy and Finance, is delivering opening remarks at the "4th New Growth Strategy TF Meeting" held on the 24th at the Government Seoul Office in Jongno-gu, Seoul.

Bang Gi-seon, First Vice Minister of the Ministry of Economy and Finance, emphasized that “priority financial support is necessary for projects where private sector autonomous promotion is difficult due to a lack of core technology or where the government needs to lead private investment through infrastructure development.”

On the 24th, Vice Minister Bang attended the 4th meeting of the New Growth Strategy Task Force (TF) and stated, “To achieve results and increase public awareness, it is important to ensure the smooth implementation of private-led projects and the financial support projects that back them.”

Vice Minister Bang instructed, “Relevant ministries should plan detailed projects in accordance with the New Growth 4.0 basic direction to ensure that key projects are reflected in next year’s budget proposal,” and added, “Relevant ministries should closely share the progress and difficulties of projects to prepare follow-up measures without any setbacks.” He also urged, “The newly established New Growth Strategy Planning and Promotion Group, relevant ministries, and the private sector must work as one team.”

At this TF meeting, detailed project measures were discussed along with the basic direction. The ‘Three Major Core Technologies Future R&D Strategy’ and the ‘Smart Manufacturing Innovation Advancement Strategy’ are scheduled to be submitted soon to the Emergency Economic Ministers’ Meeting. The ‘K-Bio Lab Hub’ will be established in Songdo, Incheon, with a budget of 272.6 billion KRW.

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