Key facts
- South Korea will focus on nurturing seven future industries as growth engines.
- These industries are considered strategic national assets.
- The seven sectors are small modular reactors, nuclear fusion, renewable energy, quantum technology, aerospace, advanced biology, and advanced materials/components supply chains.
- The initiative aims to build on the success of the semiconductor industry.
- Government support will be directed towards scientists and entrepreneurs in these fields.
South Korean President Lee Jae Myung announced on Wednesday that the nation will identify and foster seven future industries to serve as new growth engines and strategic national assets, building upon the current success of the semiconductor sector. The designated industries include small modular reactors (SMRs), nuclear fusion, renewable energy, quantum technology, aerospace, advanced biology, and the supply chains for advanced materials and components.