Seoul: An intergovernmental task force set sail Friday to support 15 major projects aimed at fostering industrial innovation and creating a "super-innovation" economy, the finance ministry said. The task force, comprising officials from nine economy-related ministries, was established to devise and implement measures to provide financial support and streamline regulations for major innovation projects selected under the government's five-year economic development blueprint announced last year.

According to Yonhap News Agency, the Ministry of Economy and Finance highlighted that the task force will focus on providing a comprehensive support package to generate tangible results from the 15 projects within five years. In August, the government unveiled the five-year plan to transform Korea into a "super-innovation" economy, aimed at boosting the country's potential growth rate and establishing it as a global powerhouse in advanced industries, such as artificial intelligence (AI).

Under this ambitious plan, the government has devised five projects to develop materials and parts for advanced industries, including next-generation power semiconductors, liquefied natural gas cargo tanks, superconductors, and graphene. Additionally, six projects have been earmarked for the climate and energy sector, focusing on the development of next-generation solar power grids, high-voltage direct current systems, and small modular reactors.

Furthermore, four projects have been selected to support the biopharmaceutical, content, beauty, and food industries. This initiative underscores the government's commitment to nurturing innovation across various critical sectors, ensuring Korea's sustained economic growth and technological advancement.