S. Korean gov't to invest in key sectors for Fourth Industrial Revolution

Published on 17 Aug 2018, 10:01
백윤규 산업부 장관, 혁신성장 성공 기업과 간담회

The nation's trade minister met with government officials and the heads of eleven companies in Pangyo, Korea's tech valley.
They discussed ways to achieve innovative growth, one of the Moon Administration's key economic agendas.
Paik Un-gyu outlined... some of these plans.

"We will help foster a data-sharing environment to power the Fourth Industrial Revolution. Starting this year, we will invest in four industry data platforms including automobiles, biohealth, energy, and new materials. And we will expand that number to ten by 2022."

The companies participating in the meeting are involved in sectors ranging from food technology... to sensors and robots.
They shared their success stories... and the challenges they overcame in scaling up their businesses.
The minister described the meeting as a platform to provide greater understanding to companies' actual needs.
He added the trade ministry will help firms expand their markets by working with the Korea Trade-Investment Promotion Agency, or KOTRA, and the Public Procurement Service in marketing, consulting, and networking.
Paik also vowed to create a fund to help start-ups to commercialize their ideas.

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