Gov't to launch 15 public-private TFs to drive 'super-innovation economy'

SEOUL, Sept. 10 (Yonhap) -- The government will establish 15 task forces made up of members from both the public and private sectors to lead individual projects aimed at creating new growth engines, the finance ministry said Wednesday.

The initiative was discussed and finalized during a ministerial meeting chaired by Finance Minister Koo Yun-cheol, as part of the Lee Jae Myung administration's five-year economic development blueprint to create what it calls a "super-innovation economy."

The government views the next five years as the last golden time to achieve significant breakthroughs to achieve sustainable growth and aims to produce tangible results by 2030, the ministry said.

The ministry emphasized the urgency of structural transformation, citing challenges such as population decline, reduced investment and stagnant productivity, which are contributing to a projected decline in the country's potential growth rate.

With a goal of raising the country's potential growth rate to 3 percent, the government will push forward innovation projects in sectors such as energy, new materials and K-food.

The government plans to set up the task forces by the end of this month, with a detailed road map expected to be finalized between October and November, the ministry added.

Each task force will consist of approximately 20 members, including representatives from relevant ministries and private companies.

khj@yna.co.kr
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