The Ministry of Trade, Industry and Energy finalized its seventh Industrial Technology Innovation Plan on March 26 through deliberation at the Presidential Advisory Council on Science & Technology. The ministry is going to make strategic R&D investments in future transportation, smart and personalized healthcare, smart technology for everyday living, environmental and energy-related smart technology, and customized smart manufacturing.
A total of 100 R&D projects are scheduled to be underway in the five fields. In smart and personalized healthcare, for example, the government is going to concentrate its investment in digital healthcare rather than the development of personal care goods and universal medical supplies, in which private investments are already active. The ministry explained that the ratio of government investment in the five fields would be raised from 73 percent in 2019 to 95 percent in 2022.
At the same time, the ministry is planning to work on 300 international standards and 300 national standards in 10 fields for strategic standardization in line with Industry 4.0. The 10 fields are autonomous and electric vehicles, hydrogen as an energy source, intelligent robot, smart manufacturing, bio-health, drone, smart city, system-on-chip, display and smart farm.
In addition, the ministry is going to reform its R&D systems with the keywords of challenge, accumulation and speed. With regard to challenge, it is going to launch a project titled Alchemist so technologies that have a low chance of success and yet are capable of changing market paradigms can be developed.