Gov`t seeks 97.8 tln won investment for growth industries

By Lee Joon-seung
SEOUL, Jan. 13 (Yonhap) -- The government said Tuesday it is aiming to attract
97.8 trillion won (US$71.2 billion) worth of investments over the next five years
to build up three core industries vital for sustained economic growth.
The 2009-2013 plan, outlined at the National Science and Technology Council
chaired by President Lee Myung-bak, calls for the government to directly inject
7.3 trillion won and for the private sector to invest 90.5 trillion won in the
specified industries, the Ministry of Knowledge Economy said.
To bolster the country's green technology sector, as well as its high-tech
convergence and value-added industries, Seoul will help create a 250 billion won
"new growth industry fund" with the business community this year, with the total
to be gradually increased to 3 trillion won by 2013.
The fund will be used to support various high risk research and development
endeavors that companies may not otherwise engage in and to help companies sell
high-tech goods by creating a market.
The ministry in charge of the country's industrial, trade and energy policies
said development of the three core industries would require money and resources
to be invested into 10 projects.
It said to enhance the country's capability in the green technology sector, funds
will go to help promote development of technologies for reusable energy, reducing
greenhouse gas emissions, energy efficient automobiles and advanced application
of light emitting diodes.
For high-tech industrial convergence, efforts will center on merging the
broadcast and telecommunications sectors, promoting next generating information
technology, robotics applications, new industrial materials and biotech-medicare
advances.
The masterplan also calls for funds and resources to go into the
contents-software area so as to expand the country's clout in the value-added
services arena, thereby helping to create new jobs.
In addition to the industrial development masterplan, policymakers at the council
meeting said they will redouble R&D support to give the country an edge in
eco-friendly technologies.
The Ministry of Education, Science and Technology said it will increase research
funds in so-called green technology development areas from 900 billion won in
2007 to over 6.3 trillion won between 2009 and 2012.
It added that the country will build an international science business center
that could eventually create 3,000 new jobs for skilled personnel and become home
to the heavy ion accelerator now under construction and slated for completion in
2015.
There are only five such accelerators in the world that are designed to help
study the structure of the nucleus and interactions between nuclei, as well as
help scientists conduct research on astronomical events, global climate change
and bio-medicine.
The government, meanwhile, said that if development of new growth engines and R&D
proceed on schedule, the total increase in value-added production is estimated to
reach 700 trillion won in 2018 with exports to be bolstered by US$900 billion.
yonngong@yna.co.kr
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