Seoul: President Lee Jae Myung articulated the need for South Korea to identify and cultivate new growth engines amidst the burgeoning era of artificial intelligence (AI) and beyond. He emphasized the importance of positioning seven future industries as pivotal drivers of economic growth and national strategic assets.
According to Yonhap News Agency, President Lee's comments came during a meeting focused on designating these seven industries as integral to the nation's future growth, supplementing the already booming semiconductor sector. South Korea's chipmakers have seen record-high revenues in recent quarters due to the surging demand for semiconductors in AI applications. In an effort to sustain this momentum, Seoul aims to highlight new sectors that will serve as strategic areas for the future economy and national security.
The seven sectors identified include small modular reactors (SMRs), nuclear fusion, renewable energy, quantum technology, aerospace, advanced biology, and supply chains for advanced materials and components. Lee emphasized the importance of leveraging the semiconductor industry's current success to prepare for future growth opportunities.
"The seven advanced technologies will become our economy's future growth engines and the country's key strategic assets," Lee stated, referring to this initiative as the "seven seed projects." He highlighted that the rapid replacement cycles of emerging technologies mean that countries must adapt quickly to avoid being left behind.
In light of these rapid industrial changes, President Lee underscored that South Korea's strategic choices will determine whether it leads or lags behind globally. He expressed confidence that the new initiative would propel South Korea into a significant phase of economic advancement.
The president called on officials and experts to implement the initiative, assuring government support for scientists and entrepreneurs who endeavor to explore new technological frontiers. The meeting convened approximately 60 government officials, researchers, and experts to discuss strategies for fostering these future industries and nurturing talent in science and engineering, as noted by the presidential office.