S. Korea creates blueprint to boost semiconductor, future mobility, and bio-health industries

South Korea is drawing up a comprehensive blueprint to help the three industries -- non-system semiconductor, future mobility, and bio-health achieve top global competitiveness.

According to Deputy Prime Minister and Finance Minister Hong Nam-ki, the goal is for the country to become number one in the non-memory semiconductor industry and in electric and hydrogen vehicle manufacturing.

They would also develop the bio-health industry to become one of their top five exporting industries.

Efforts would be concentrated on deregulation, creating ecosystems, and bolstering infrastructure.

For the research and development of state-of-the-art chips, the minister pledged to offer tax deductions for investments and create government funds.

n the future mobility sector, South Korea envisions supplying 380,000 future vehicles by 2022 while also aiming to transform 470 component manufacturers into those dedicated to future vehicles and establishing autonomous infrastructure.

It will also expand the number of hydrogen charging stations to over 110 units by the first half of next year.

The government also plans to secure some 200 hydrogen station sites via repurposing of idle land owned by public institutions.

Hong also emphasized that the government would allow genetic treatment research for all diseases and establish guidelines for using data on medical and health care.