Koo Yun-cheol: “Momentum for Economic Recovery Expanding... Real Estate Stability and Stimulating Consumption Will Go Hand in Hand”

Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance, emphasized on the 20th, "Our economy is gradually regaining vitality as it emerges from a prolonged slump. We will continue to expand the hard-won momentum for economic recovery."
At the 'Growth Strategy Task Force (TF) and Council of Economic Ministers' meeting held at the Government Complex Seoul, Koo stated, "The government will serve as a strong springboard for corporate growth. We will focus our capabilities on the hyper-innovative economy and the major transition to artificial intelligence (AI), and will swiftly announce measures to restore the competitiveness of key industries such as steel and petrochemicals."
On this day, the government announced the second initiative among the 15 Hyper-Innovative Economy Projects. This measure follows the first plan released in September, which included five areas: Silicon Carbide Power Semiconductor (SiC Power Semiconductor), LNG cargo containment system, Graphene, special carbon steel, and K-Food.
The second round of measures covers five key areas: Smart Farming, Smart Fisheries Industry, Very High Resolution Satellite, AI Bio Open Ecosystem, and the K-Beauty Integrated Cluster. The plan aims to establish a foundation for new industries and enhance national competitiveness and economic structure by developing core technologies, building infrastructure, and attracting private investment in each field.
For Smart Farming and Smart Fisheries Industry, innovation-leading districts will be designated by 2026, and active investment will be made in developing AI solutions and supporting the growth of specialized companies.
In the Very High Resolution Satellite sector, the government will develop core technologies for 10-centimeter-class optical satellites to lay the groundwork for an independent AI-based climate prediction model. Koo Yun-cheol explained, "The space-dedicated fund (currently KRW 30 billion) will be expanded by about KRW 200 billion next year, with more than KRW 100 billion to be invested in promising small and venture companies."
For AI Bio, the government aims to discover at least four new drug candidates by 2030 by fostering innovation hubs that bring together industry, academia, research institutes, and hospitals.
To further expand the global reach of the K-Beauty industry, the government will actively promote the K-Beauty Integrated Cluster, which combines experience, culture, and tourism. With Korea currently ranking third in global exports (after France and the United States), the government plans to diversify export strategies and select a key cluster site by early 2026 to help the industry become one of the top two global leaders.
At the same time, efforts will be made to further spread the ongoing economic recovery.
Koo Yun-cheol announced, "From October 29 to November 9, we will hold the Korea Grand Festival to spark a nationwide consumption boom. With Sangsaeng Payback applied to November purchases, we hope more people will benefit." He also added, "We will work harder to stabilize the real estate market and vitalize the capital market so that funds in circulation can flow into productive sectors."
Meanwhile, the three major shipbuilders—HD Korea Shipbuilding & Offshore Engineering (HDKSOE), Samsung Heavy Industries, and Hanwha Ocean—will join forces with the government to launch the K-Shipbuilding Tech Alliance next year. They will jointly develop AI-based autonomous ships and unmanned shipyard technologies, while also fostering specialized talent and standardizing data. On this day, the government also finalized the 'AI Relay On-site Meeting Results and Action Plan.'
As the Four Major Leading Projects for AI Transformation (robotics, automobiles, ships, and drones) move into concrete implementation, the government plans to provide comprehensive support—including a KRW 10.1 trillion AI budget and a KRW 150 trillion National Growth Fund—through packages covering budget, tax, finance, and regulatory easing.
imne@fnnews.com Hong Ye-ji, Lee Bo-mi Reporter