The government has decided to add four new projects to its ultra-innovative economy initiative, including superconductors, K-bio, K-digital healthcare, and K-content. This brings the total number of projects under the 15 major ultra-innovative economy leading projects to 20. The Ministry of Economy and Finance announced the fourth implementation plan for the 15 major projects at the Industrial Competitiveness Enhancement Ministers’ Meeting and Growth Strategy TF held on the 16th.
On August 22, the government presented 15 leading projects for the ultra-innovative economy through its new economic growth strategy. It has been operating 20 public-private joint task forces centered on companies to gather field opinions and has announced implementation plans for 16 tasks under 13 projects over the past three months. The first tasks included next-generation power semiconductors such as SIC, LNG cargo tanks, graphene, special carbon steel, and K-food. The second included smart agriculture, smart fisheries, ultra-high-resolution satellite development and utilization, AI bio open ecosystem, and K-beauty. The third included next-generation solar power, next-generation power grids, offshore wind power, HVDC, green hydrogen, and SMR.
In this fourth announcement, the government confirmed the implementation plans for four tasks in the fields of national strategic advanced materials and components, and K-boom up, including superconductors, K-bio global commercialization support, K-digital healthcare, and K-content. The superconductor task aims to advance high-temperature superconductor magnet source technology, enabling miniaturization and high performance of core parts and equipment, and to develop practical application technologies in fields such as medical (cancer treatment accelerators), energy (nuclear fusion), and transportation (aircraft). The goal is to develop prototypes for each application field within the next five years to lead industrial and technological innovation.
The government plans to provide comprehensive support in finance, taxation, manpower, and regulation to visibly produce results from this project. It will also focus on creating tangible outcomes through collaboration between public-private joint task forces and related ministries over the next five years, which it considers a golden time for the economy.