President Lee: "I Will Develop the Aerospace Industry at All Costs... It Is a Pillar of National Security and a Future Growth Engine"

[Financial News] On the 3rd, President Lee Jae Myung said, "I will firmly develop the aerospace industry, which will serve as a cornerstone of national security and a new future growth engine, at all costs for the fate of the country." He added, "We will provide full support so that our innovative companies and scientists can take bold challenges freely."
At the 5th National Space Committee meeting held that day at the 100th Anniversary Hall of Gyeongsang National University’s Chilam Campus in Jinju, South Gyeongsang Province, President Lee said the world’s technological rivalry is now expanding beyond Earth and into space.
He said space is becoming a stage of limitless opportunity for all countries with advanced technology and industrial capabilities, much like the seas during the Age of Exploration. Because of that, he added, the aerospace sector is undergoing a major shift from a field of state-led research and exploration to a vast industrial domain driven by capital and the market.
President Lee cited SpaceX as an example. He noted that SpaceX recently drew global attention by successfully going public, saying this symbolically shows how much potential the aerospace industry holds.
He said, "The Republic of Korea must move forward anew as a powerhouse of super-gap industries. To do that, there are many areas, but concentrated investment and nurturing of the aerospace industry are necessary." He added, "I believe Korea's technological capabilities have already been proven. We must now turn these achievements, built with great effort by our researchers, into stronger industrial competitiveness."
He also stressed, "I believe the aerospace industrial belt on the South Sea coast can lead the Republic of Korea's great leap forward as a space power. The government will provide firm support."
President Lee said, "I will firmly develop the aerospace industry, which will serve as a cornerstone of national security and a new future growth engine, at all costs for the fate of the country." He added, "I ask the public to take a deep interest and watch closely so that our regional challenges can spread beyond the sky and all the way into space."

Deputy Spokesperson of the Blue House Ahn Gwi-ryeong said the meeting reviewed a draft strategy for fostering the Republic of Korea's aerospace industry as a future growth engine, centered on the South Sea coast belt where companies and infrastructure are concentrated.
When President Lee said, "Foreign leaders are showing strong interest in our country's advanced technologies," and proposed forming a dedicated task force for the joint international development of next-generation commercial aircraft, Commissioner Kim Soo-jong requested expanded investment in the bold and innovative efforts of venture firms and startups. He also suggested that regulations on rocket launch permit reviews should be significantly eased in order to nurture successful aerospace companies like SpaceX.
In response, President Lee instructed officials to ease reviews for follow-up launches as long as they do not threaten public safety and to rationally improve related review rules.
Meanwhile, President Lee later attended the Yeongnam Region Vision for Advanced Industry Development National Report Meeting held at the gymnasium of Gyeongsang National University’s Chilam Campus. He said, "Yeongnam will now take another step forward, beyond becoming No. 1 in domestic manufacturing, toward becoming No. 1 in global manufacturing." He added, "Among these, aerospace will become a new growth industry for the Republic of Korea that Yeongnam will help cultivate."
He continued, "Our government plans to fully build the South Sea coast aerospace industrial belt, which connects satellites, launch vehicles, future aircraft, space, and new industries." He said, "We will mobilize all of the government's capabilities to actively support aerospace companies in the Yeongnam Region so they can grow into top-tier global firms." On that day, major companies including Hanwha Group, Hyundai Motor Company, Samsung, and SK Group announced investment plans totaling 312 trillion won in the Yeongnam Region.
cjk@fnnews.com Choi Jong-geun Reporter