South Korea Unveils Seven-Project Technology Strategy for Growth

South Korea has unveiled an extensive technology strategy encompassing seven distinct projects. This initiative, known as "Seven Major SEED," aims to establish new economic growth drivers beyond the nation's established sectors of semiconductors and artificial intelligence. The announcement occurred at a Blue House meeting, presided over by President Lee Jae Myung.

Credits: UNSPLASH

The "Seven Major SEED" initiative specifies several ambitious targets. These include the commercial deployment of indigenous small modular reactors by 2035, a domestic moon landing by 2030, and the development of a 100 qubit quantum computer by 2029. Furthermore, the plan details the commercialisation of brain computer interface products by 2035.

President Lee Jae Myung stated the nation should utilise current opportunities, particularly the expansion of the semiconductor industry and artificial intelligence, to cultivate its subsequent growth areas. He characterised these seven projects as future growth engines and critical national assets for the country. So, the government views these initiatives as foundational for long term economic security.

Science Minister Bae Kyung hoon provided further details on the scope of the initiative. He confirmed it encompasses small modular reactors, fusion energy, next generation renewable energy, quantum technology, space and aviation, advanced biotechnology, and critical minerals and materials supply chains. This wide range indicates a varied approach to securing technological advantage.

The strategy emerges as South Korea contends with a declining working age population and reduced potential economic growth. The nation is concurrently involved in a global competition to secure an edge in emerging technologies, which are increasingly considered fundamental to both economic competitiveness and national security. And this competition forms a significant backdrop to the government's current policy direction.

Minister Bae Kyung hoon expressed confidence regarding the initiative's potential. He articulated a vision where these "seeds" would mature, enabling South Korea to establish itself as a global leader in the coming one to two decades. This sentiment shows the long term ambitions within the strategy.

Under the nuclear energy component of the strategy, South Korea intends to commercialise a domestically developed small modular reactor by 2035. This goal is paired with plans to commence construction of non light water small modular reactors during the 2030s. But fusion based electricity generation is also a target, slated for pursuit in the late 2030s.

The renewable energy segment outlines several development plans, according to a government press release. These include the creation of ultra efficient solar cells, advanced offshore wind technologies, hydrogen production systems, and artificial intelligence based power grid technologies. The focus is on innovation across multiple fronts within the sector.

In quantum technology, the government's aim is to develop a domestic error corrected 100 qubit quantum processor by 2029. This objective supports a broader ambition to become a leading nation in quantum chip manufacturing by 2035. So, substantial investment in this advanced computing field is projected.

The space programme details a domestic moon landing mission scheduled for 2030, followed by a second lunar lander mission in 2032. Concurrently, the programme includes the construction of an independent low Earth orbit satellite communications network by 2035. This demonstrates a thorough approach to space infrastructure.

Government plans also encompass the development of technologies related to space data centres. Furthermore, the administration will support South Korean participation in next generation commercial aircraft programmes. And these efforts point to a desire for broader engagement in the global aerospace industry.

In the biotechnology sector, South Korea intends to establish an artificial intelligence bio infrastructure by 2030. The commercialisation of brain computer interface products is also targeted by 2035. This includes support for artificial intelligence driven drug discovery, autonomous laboratories, and advanced gene and cell therapies.

The supply chain component of the initiative comprises measures designed to expand domestic processing and recycling of critical minerals. It further aims to increase strategic stockpiles and diversify sourcing channels. But a significant investment of USD 7.1 billion (10 trillion won) in materials, parts, and equipment technologies is also planned by 2030, according to Reuters.

Officials indicated that a public private task force is to be established. The purpose of this body will be to expedite commercialisation efforts through various regulatory reforms. This reflects an organisational commitment to practical implementation.

President Lee concluded his remarks by stating that the nation's future hinges on its present choices. He suggested South Korea could either become a leader with extensive opportunities or a follower facing the risk of stagnation. So, the strategy is presented as a pivotal decision point for the country's trajectory.

• South Korea launched the "Seven Major SEED" initiative for new growth drivers.

• Targets include small modular reactor commercialisation by 2035 and a moon landing by 2030.

• The strategy addresses a shrinking workforce and competition in critical technologies.

• Significant investment of USD 7.1 billion is planned for materials and equipment technologies.

• A public private task force will support commercialisation through regulatory reform.

Source: Reuters