[National Report Meeting] Tailored Support for Technology, Finance, and Workforce in Shipbuilding, Defense, and Steel Industries

Industry-Specific Strategies Finalized for Strategic Sectors
Eco-Friendly Transition and Export Expansion as Key Goals
Strengthening Competitiveness Through Technology Development, Financial Support, and Workforce Training

The government is promoting industry-specific support measures for strategic sectors such as shipbuilding, defense, chemicals, steel, and batteries. For each industry, tailored strategies, policy tools, and financial support plans have been established.

President Lee Jae Myung is taking a commemorative photo after awarding the letter of appointment to Lee Han Ju, Chairman of the National Planning Committee (right in the photo), at the Yongsan Presidential Office on the 4th of last month. Photo by Yonhap News Presidential Office Press Photographers Group

According to the five-year state administration plan of the Lee Jae Myung administration, announced by the Presidential National Planning Committee at the National Report Meeting on August 13, the shipbuilding industry will focus on securing eco-friendly and smart ship technologies as its core strategy. The government will promote the development and demonstration of methanol and ammonia fuel supply and safety systems, as well as e-navigation and autonomous navigation software. The issuance limit for refund guarantees for advance payments (RG) will be expanded. Support will be provided for low-interest financing, such as the 'Green Boat Loan,' along with training programs for highly skilled welding and painting workers and an expanded quota for skilled foreign workers.

The defense industry will focus on fostering advanced strategic sectors and expanding package exports. This includes combined exports of platforms, ammunition, C4I, and MRO; the development of artificial intelligence, drones, advanced engines, and defense space technologies; acquisition system innovation; and the expansion of strategic industrial complex infrastructure. Investments from the National Growth Fund and fiscal investments totaling 1.5 trillion won are planned.

In the chemical sector, the focus will be on transitioning to specialty chemicals and achieving low-carbon processes. Key initiatives include electric cracking, the shift to bio-based and recycled raw materials, the development of specialty chemical materials, the establishment of waste plastic recycling infrastructure, the integration of chemical substance regulatory procedures, the expansion of mutual recognition agreements (MRA), and support for certification and testing costs. Fiscal resources will be allocated to low-carbon and circular economy infrastructure.

Hanwha Ocean Okpo Shipyard Yard Dock in Geoje, Gyeongnam. Photo unrelated to the article content. Photo by Kang Jinhyung

The steel industry aims to transition to green steelmaking and respond to the Carbon Border Adjustment Mechanism (CBAM). Initiatives include the adoption of hydrogen-based steelmaking, expansion of electric arc furnaces, optimization of processes using artificial intelligence (AI), designation of green steel special zones, grading and sorting of scrap quality, public procurement of low-carbon certified steel, and the development of guidelines for demand industries. Support will also be provided for transition finance, trade defense measures, and the emissions trading scheme.

The battery industry is targeting the commercialization of next-generation batteries and strengthening its global market response. Efforts will focus on the development of all-solid-state and lithium-sulfur batteries, localization of materials, expansion of production bases in North America and the EU, fostering the energy storage system (ESS) industry, collection, recycling, and quality certification of used batteries, expansion of safety testing and certification centers, and the training of specialized personnel. Investments from the National Growth Fund and support for infrastructure development will be carried out in parallel.

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