Press Release

MINISTRY OF

‘GROWTH THROUGH INNOVATION’

G

‘G

The government unveiled on August 13

A total of about 5 trillion won, an increase of 2 trillion won compared with 2018, eight pilot projects¹, as well as on the building of a platform economy, such as big data analytics and transactions

The government will invest a total of 9

years. Given the impact of a nationwide platform involved, the platform economy will accelerate Four projects to develop a platform econom The government decided to focus on

supply chain for hydrogen fuel cell

develop qualified human capital needed.

- Build a big data platform: The government will focus on developing blockchain technology

sharing economy

- Ease data divide: The government will businesses to use big data

exporters

- Build a hydrogen fuel cell supply chain transportation and utilization

- Develop an education program to provide as many as 10,000 qualified workforce next five years²

Investment plan for 2019

- A total of 5 trillion won, an increase of 2 trillion won from the previous year won in the eight pilot projects and 1.5 trillion won

- A total of 0.5 trillion won of investment in the four projects 371 percent increase from

1 Future cars, drone services, new energies, fintech

2 2,000 for 2019

Embargo:

Contact Information

Press Release

MINISTRY OF ECONOMY AND FINANCE

www.moef.go.kr INVESTMENT PLAN

OVERNMENT TO

S

5

201 G

I

’

on August 13 its ‘growth through innovation’ investment plan , an increase of 2 trillion won compared with 2018,

1, as well as on the building of a platform economy, such as s, and a hydrogen fuel cell supply chain.

invest a total of 9-10 trillion won in a platform economy of a nationwide platform on other industries, in addition to , the platform economy will accelerate ‘growth through innovation’.

platform economy

decided to focus on two platforms, a digital platform for big data analytics and fuel cells, and announced four projects, including an

human capital needed.

: The government will focus on promoting big data developing blockchain technology to ensure data management security

The government will provide fiscal support to encourage small big data, and promote the development of digital trade

Build a hydrogen fuel cell supply chain which covers from production to storage utilization

education program to provide as many as 10,000 qualified workforce

2

, an increase of 2 trillion won from the previous year the eight pilot projects and 1.5 trillion won in a platform economy A total of 0.5 trillion won of investment in the four projects to develop

from the previous year

1 Future cars, drone services, new energies, healthcare biotechnology, smart factories, smart cities, smart farms and

2

Release Date: August 13, 2018

Contact Information: Lee Jae-hong (044-215-7371/ R&D Budget Division

2019

investment plan for 2019.

, an increase of 2 trillion won compared with 2018, will be spent on the

1, as well as on the building of a platform economy, such as a digital platform for

a platform economy over the next five in addition to those directly

.

big data analytics and a an education project to

promoting big data and AI, to ensure data management security and boosting the

encourage small trade platforms for which covers from production to storage,

education program to provide as many as 10,000 qualified workforce over the

2

, an increase of 2 trillion won from the previous year: 3.5 trillion a platform economy

to develop a platform economy, a

1 biotechnology, smart factories, smart cities, smart farms and

2

Division)

MINISTRY OF ECONOMY AND FINANCE

www.moef.go.kr

Growth through innovation investment, 2018 and 2019

(billion won) 2018

(A)

2019 plan (B)

Change

(B-A) y-o-y, % Big data, AI, blockchain, sharing economy

- Develop a big data platform

- Ease digital divide and promote the use of big data analytics

579.9 1,040.0 460.0 79

39.7 190.0 150.0 378

6.8 130.0 120.0 1,765

Hydrogen fuel cells

- Build a supply chain

42.2 110.0 70.0 166

37.2 100.0 60.0 161

Develop qualified workforce

- Education program to grow 10,000 workforce

247.9 340.0 90.0 36

24.0 90.0 70.0 292

Subtotal for platform economy (C) 870 1,490.0 620 71

Future cars 590.7 760.0 170.0 29

Drone services 69.8 120.0 50.0 72

New energies 597.1 870.0 280.0 47

Healthcare biotechnology 271.8 350.0 80.0 29

Smart factories 444.6 1,030.0 590.0 133

Smart cities 76.7 130.0 50.0 65

Smart farms 114.4 240.0 130.0 114

Fintech 3.6 10.0 6.0 167

Subtotal for 8 pilot projects (D) 2,168.6 3,520.0 1,350.0 62

Total (C+D) 3,038.6 5,010.0 1,970.0 65