Gu Yoon-cheol Says US Investments Must Become Strategic Opportunity to Lead Global Value Chains

(Sejong=Yonhap Infomax) Jun Hyung Park – Deputy Prime Minister and Minister of Economy and Finance Gu Yoon-cheol emphasized that "investments in the United States, in line with tariff negotiations, should be leveraged as a strategic opportunity to actively lead global value chains and position South Korea at the forefront of the global economy."

Gu made these remarks at the 'Economic Ministers' Meeting and Growth Strategy Task Force (TF)' held at the Sejong Government Complex on the 26th.

He stated, "The South Korean economy stands at a turning point that will determine its growth trajectory for decades to come," adding, "The government will focus all capabilities and support to ensure South Korea becomes the global birthplace of a super-innovative economy."

Gu further noted, "We will back key projects leading artificial intelligence (AI) and the super-innovative economy with large-scale fiscal investment and bold regulatory reforms to ensure tangible results."

During the meeting, the government discussed measures to enhance the competitiveness of the autonomous vehicle industry, plans to advance 15 leading projects for a super-innovative economy, and strategies to position South Korea among the world's top four venture powerhouses.

Gu stated, "By 2027, we will commercialize fully autonomous vehicles and emerge as one of the top three global leaders in autonomous driving technology. Next year, we will establish a demonstration city where autonomous vehicles can operate throughout the entire urban area."

He added, "We will elevate the renewable energy industry to global leadership. Next-generation solar power will see high-efficiency tandem cell modules commercialized by 2028, and offshore wind power will achieve mass production of 20MW-class ultra-large turbines within five years."

Gu also said, "To enable the Korean-style small modular reactor (SMR) to secure a leading position in the global market, we will obtain standard design approval and concentrate investments in nuclear power funds. We will also introduce a next-generation power grid based on AI."

Regarding the 'Leap to the Top Four Global Venture Powerhouses' initiative, he commented, "We will swiftly foster K-Big Tech companies equipped with innovative ideas and advanced technologies."

jhpark6@yna.co.kr

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