Establishment of public-private consultation channels for key strategic technology companies
Proposal for government support measures to secure strategic technologies

The heads of major companies in the 12 major national strategic technology sectors and the attendees unanimously agreed that fostering and securing science and technology talent at the national level is of the utmost importance.

The Ministry of Science and ICT (hereinafter MSIT) formed the 'National Strategic Technology Public-Private Consultative Body' (hereinafter 'Public-Private Consultative Body'), a high-level public-private cooperation channel in the field of strategic technology, and held its first meeting at the El Tower in Yangjae-dong on the 23rd (Wed).

This is a follow-up measure to the 'Plan for Fostering National Strategic Technologies' announced on October 28 at the National Science and Technology Advisory Council chaired by President Yoon Suk-yeol last month, aimed at strengthening cooperation with the private sector.

The public-private consultative body, which is scheduled to operate regularly (once every six months), will be composed of the Minister of Science and ICT, representatives of major companies in the 12 major national strategic technology sectors, and private sector experts. It will collect opinions from the private sector to share and discuss the vision and strategy for fostering national strategic technologies and the direction of national strategic projects, and to promote them effectively.

Representatives from major domestic companies in strategic technology sectors, including CJ Bioscience CEO Jong-Sik Chun, Samsung Electronics, Hyundai Motor Company, and Hanwha Aerospace, attended the meeting representing the industrial sector, while National Science and Technology Council Chairman Bok-Chul Kim and KAIST President Kwang-Hyung Lee were also present to represent the research and academic sectors.

Minister Lee Jong-ho in the first sessionIn his opening remarks, he recognized the series of current situations that are making the national economy difficult since the pandemic as a complex crisis and emphasized the importance of securing national strategic technologies through cooperation and the pooling of capabilities between the government and the private sector as a way to overcome it.

In the subsequent meeting, participants presented various opinions through open discussion, including corporate response measures for fostering national strategic technologies and difficulties encountered in the field.

The participating companies agreed that although they possess top-tier technological capabilities in their respective fields and are making large-scale investments in R&D, business uncertainty has never been as high as it is now, and they proposed various government support measures to secure strategic technologies.

The participants pointed out that, above all, the cultivation and securing of science and technology talent at the national level is important, and suggested exceptions to the application of strict personal information protection regulations and the introduction of negative regulation in areas lacking certification, standards, and safety criteria to develop new technologies and expand new businesses in strategic technology fields.

Furthermore, emphasizing the need for government support to foster the self-reliance of the industrial ecosystem, they requested assistance for infrastructure that is difficult for companies to build independently, as well as expanded R&D support regardless of company size, specifically for strategic technology sectors, to encourage leading domestic firms to continuously increase their R&D investments.

Furthermore, emphasizing the need to strengthen inter-ministerial cooperation to secure national strategic technologies and to enhance the capabilities and communication of industry, academia, research institutes, and the government to become a technological powerhouse, they requested the government's continued attention and support amidst the intensifying competition for technological leadership among major nations.

Minister Lee Jong-ho expressed his intention to actively accept and review the suggestions made by the attendees, and added that matters discussed in the public-private consultative body would be actively reflected in government policies through the Special Committee on Strategic Technology in the future.

Minister Lee said, “The public and private sectors work together to achieve goals"We will swiftly establish an institutional foundation to consolidate public-private capabilities by setting up and promoting jointly invested national strategic technology projects, along with enacting a special act for fostering national strategic technologies," he said.