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(KPL/Yonhap) Finance Minister Koo Yun-cheol on Thursday underscored the importance of technological innovation in developing the economy, pledging government support for domestic companies with such innovation.
(KPL/Yonhap) Finance Minister Koo Yun-cheol on Thursday underscored the importance of technological innovation in developing the economy, pledging government support for domestic companies with such innovation.
Koo made such remarks during a meeting with chiefs of companies driving new industries through advanced technology, including a company specializing in piezoelectric single crystals -- materials that convert pressure into electricity, according to the Ministry of Economy and Finance.
"To achieve a major leap forward in our economy, technological innovation is key," Koo said. "The government will mobilize all its capabilities to support companies' innovation efforts and provide practical assistance on the ground."
Business leaders attending the meeting proposed measures such as strengthening the training system for talent in the robotics industry and expanding research and development (R&D) support for companies.
In response, Koo pledged to fully implement a newly launched mega-sized Public Growth Fund, sized around 30 trillion won (US$20.5 billion) for this year, to support strategic industries.
"Through company-centered policy packages, we will accelerate the visible results of leading ultra-innovative economic projects," he added.
KPL
