Koo Yun-cheol Vows to Accelerate Corporate-Centered Policies for Breakthrough Innovation

According to Financial News, Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol visited high-tech companies in regional areas on the 5th and pledged full policy support from the government.
On that day, Deputy Prime Minister Koo toured the production and development sites of Ible Photonics, an advanced materials manufacturer in Incheon, and Brills, a robot development company. He also held a meeting with representatives from nearby innovative companies.
At the meeting, Koo said, "Technological innovation is the key to a great leap forward for our economy," adding, "The government will mobilize all its capabilities to support companies' innovation efforts." He went on to say, "We will accelerate efforts so that the Leading Projects for Ultra-Innovative Economy produce tangible results, including through package-style, corporate-centered policy support."
Business leaders asked Koo to strengthen systems for training practical, field-ready talent in the robotics industry and to expand research and development (R&D) support for companies in biotechnology, medical devices, and digital healthcare.
The government plans to support a total of 30 trillion won this year through the National Growth Fund for advanced industries such as artificial intelligence (AI), semiconductors, the biotechnology industry and vaccines, and mobility.
Ible Photonics produces piezoelectric single crystals, an ultra-high-performance sensor material that converts pressure into electricity. Piezoelectric single crystals are core components for ultrasound and sonar and are widely used in medical and defense applications. At the end of last year, the government revised the Restriction of Special Taxation Act to add technologies and facilities for self-developed defense equipment to the list of new growth and original technologies. As a result, companies can receive tax credits of up to 40% of their investment.
Brills possesses technologies for designing robot solutions and building standardized platforms. This year, the government expanded R&D support, including 15 billion won for developing core Physical AI technologies and 30 billion won for developing general-purpose humanoid technologies.
skjung@fnnews.com Jung Sang-geun Reporter