Emergency Ministerial Meeting on Economic Affairs and Meeting on Export and Investment Promotion
Deputy Prime Minister Kyungho Choo convened the Emergency Ministerial Meeting on Economic Affairs and Meeting on Export and Investment Promotion at the Government Complex-Seoul on September 18 to discuss; 1) follow-up measures of the development plan for high-tech global clusters, 2) the new digital manufacturing innovation strategy, 3) strategies for enhancing satellite communications and 4) measures to promote the education and information technology (Edu-Tech).
The following is a summary of DPM Choo’s remarks.
Follow-up measures of the development plan for high-tech global clusters
The government will inject 400 billion won next year and 2.2 trillion won for the next five years to establish infrastructure for specialized high-tech industrial complexes, high-tech medical complexes, and special R&D zones, and assist startups and R&D in these clusters.
Furthermore, in order to stimulate private investment, the ratio of external funds raised for corporate venture capitals (CVC) owned by general holding companies will be increased from the current 40% to 50% and the ratio of allowable overseas investment will be raised from 20% to 30%.
The new digital manufacturing innovation strategy
The government will support 1,100 SMEs to advance production facilities utilizing digital technology for next year, with the goal of reaching 5,000 SMEs by 2027. In particular, the government will assist these SMEs in building “autonomous factories”, which leverage artificial intelligence (AI) technology to further boost productivity, as well as “digital collaborative factories” that connect multiple factories to optimize production processes.
Strategies for enhancing satellite communications
As a means of promoting satellite communications, which is key infrastructure for the next-generation communication network, the government will strengthen R&D support for core technologies of satellite communication that can be used in new services such as urban air mobility (UAM) and autonomous vessels.
Measures to promote Edu-Tech
The government aims to provide high quality public education services by fostering the Edu-Tech industry as a new growth engine. In this regard, the “AI digital textbook” which provides learning materials tailored to each individual’s learning level and speed will be introduced in phases starting from 2025.
Please refer to the attached files.