Establishment of alliances in 10 fields over the next three years
Discovering 100 Digital Transformation Challenges
Promoting the enactment of the Industrial Digital Transformation Promotion Act


The Ministry of Trade, Industry and Energy (MOTIE) held the launch ceremony for the 'Industrial Digital Transformation Alliance' at the Dragon City Hotel (Yongsan) in Seoul on the 28th. Approximately 100 companies participating in the Industrial Digital Solidarity signed an MOU for establishing an industrial digital transformation solidarity and an MOU for financial support through online video conferencing.

The solidarity was established as a follow-up measure to the "Digital-Based Industrial Innovation Growth Strategy" announced on August 20th as part of the Korean New Deal, to utilize diverse and vast industrial data generated across all areas of industrial activity to resolve common industry issues and identify and implement digital transformation tasks for the creation of new products and services.
Over the next three years, approximately 150 companies and organizations across six sectors—future vehicles, home appliances and electronics, healthcare, shipbuilding, distribution, and materials and components—will form 17 teams and establish alliances across 10 sectors, identifying 100 digital transformation challenges.

This year, we will establish six sector alliances and identify 20 projects, taking into account factors such as the likelihood of successful digital transformation and the systematic composition of the industrial ecosystem.

For the identified projects, we plan to enhance their innovativeness, success potential, and ripple effects, and provide comprehensive support through funding, R&D, and regulatory reform.

The government will create an industrial intelligence fund of 400 billion won by 2024 and provide 1.5 trillion won through the Korea Credit Guarantee Fund. Additionally, we signed an MOU with Shinhan Bank to provide financial support, including an additional credit loan of KRW 520 billion, to help small and medium-sized enterprises (SMEs) invest in digital transformation.

R&D will also transition to a data- and AI-based approach, and 520 billion won (in 2021) will be provided in funding for digital transformation.

We will also support the swift processing of necessary regulatory improvements through the "regulatory sandbox" system, and proactively identify business restructuring needs and pursue blanket approval for businesses entering the digital transformation sector. In addition, we will strengthen support throughout the entire cycle, from planning to implementation inspection to problem resolution.

The Ministry of Trade, Industry and Energy has decided to cooperate with the National Assembly on the "Act on Promotion of Digital Transformation and Intelligence in Industry" (proposed by Representative Koh Min-jung) to institutionally establish the "Industrial Digital Transformation Solidarity" and systematically support innovative tasks.