The Ministry of Economy and Finance of Korea has announced the reorganization of its former New Growth Strategy Planning and Promotion Team into the Super Innovation Economy Task Force. This move is part of a broader strategy to implement performance-driven economic policies and accelerate national growth. The task force will oversee 15 leading projects identified in the government’s economic growth strategy announced on August 22, 2023. These projects span advanced materials, climate and energy, and K-Boom Up sectors.
The Super Innovation Economy Task Force includes participation from nine ministries, such as the Ministry of Economy and Finance and the Ministry of Science and ICT. The 15 projects cover advanced materials and components (including next-generation power semiconductors, LNG cargo holds, superconductors, graphene, and special carbon steel), climate and energy (such as next-generation solar and power grids, offshore wind and HVDC, green hydrogen and SMR, smart agriculture and fisheries, and ultra-high-resolution satellite development), and K-Boom Up sectors (K-bio pharmaceuticals, K-content, K-beauty clusters, and K-food). The task force aims to address business challenges and provide comprehensive support packages, including financial, tax, regulatory, and talent development measures.
Since the announcement of the 15 super innovation projects, the government has sequentially released implementation plans for 20 detailed tasks through economic ministers’ meetings. The task force operates working-level councils centered on businesses for each project to gather on-site feedback. A real-time project monitoring system (C-PMS) will be activated to closely manage progress and maximize project effectiveness. The government also plans to create concrete models for public and private demand generation, such as matching supply and demand companies, supporting demonstrations, and opening new markets.
Frequently asked questions include the following: What is the main goal of the Super Innovation Economy Task Force? The main goal is to achieve tangible economic growth by focusing on advanced industries and fostering public-private collaboration. How will the task force ensure project success? The task force will implement a continuous monitoring system and provide comprehensive support to address business challenges. Deputy Prime Minister Koo Yun-cheol emphasized that the core of the 2026 economic policy is on-site performance, and the task force will concentrate policy efforts to deliver changes that citizens can feel.
Metaqsol opinion: The establishment of the Super Innovation Economy Task Force marks a significant step in Korea’s pursuit of performance-based economic growth. By targeting 15 key projects in advanced industries and providing comprehensive support, the government is prioritizing tangible outcomes and stakeholder involvement. The use of real-time monitoring and active business engagement is expected to enhance project effectiveness. This initiative reflects a focused and strategic approach to national economic innovation.