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Cybersecurity News that Matters

South Korea unveils $23 billion master plan to boost strategic technologies

Illustration by Daeun Lee, The Readable

by Dain Oh

Aug. 28, 2024
12:56 AM GMT+9

South Korea unveiled a master plan on Monday to promote 12 national strategic technologies, including semiconductors, cybersecurity, and quantum computing. In a document jointly signed by the heads of 22 government organizations, the South Korean government announced an investment of over 30 trillion won (approximately $23 billion) over the next five years to accelerate research and development (R&D) in these key areas.

For the ten flagship projects based on national strategic technologies, which were initiated last year as part of a 10-year plan, the government expects to inject an additional 3 trillion won (approximately $2.3 billion) to improve the feasibility of these investments.

On August 26, the Ministry of Science and ICT (MSIT) released the Master Plan to Foster National Strategic Technologies. This plan primarily outlines the mid-to-long-term prospects and policy directions for 12 key national strategic technologies. The master plan is titled “Blueprint of the Republic of Korea’s Science and Technology Sovereignty.”

The 12 national strategic technologies include semiconductors and displays, secondary batteries, advanced mobility, next-generation nuclear energy, cutting-edge biotechnology, aerospace and marine technologies, hydrogen, cybersecurity, artificial intelligence, next-generation communications, advanced robotics and manufacturing, and quantum technology.

These technologies are divided into three categories: leading, competitive, and future challenges. For example, semiconductors and displays fall under the first category of “leading.”

Cybersecurity is classified in the “competitive” category, alongside AI. To boost the cybersecurity industry, the government plans to intensify efforts to identify leading companies in this sector through its “Flagship 2.0” initiative. This initiative will provide selected companies with various government benefits, such as fast-tracking them through government evaluations. Additionally, the nation plans to increase government funding for cybersecurity by 130 billion won (approximately $98 million).

The latest plan is a follow-up to President Yoon Suk-yeol’s national technology agenda, which was first announced in October 2022 and originally dubbed the “National Strategic Technology Nurture Plan.”

“The National Strategic Technology Nurture Plan represents a national policy direction aimed at fostering strategic technologies that will shape the future of society and strengthen national security in an era where new and core technologies determine the fate of the economy, security, and diplomacy,” the MSIT wrote in a statement published on October 28, 2022. “This plan is also a comprehensive, pan-government strategy designed to position Korea as a leader in technology competition, rather than simply being a follower of existing trends.”

Initially drafted by the Presidential Advisory Council on Science & Technology (PACST), which convened government officials and 19 experts from the private sector, the plan identified 12 national strategic technologies based on their significance in areas such as “supply chain, trade, emerging industries, diplomacy, and national security,” according to the MSIT.


Related article: South Korea announces master plan for post-quantum cryptography

The South Korean government will transform its national cryptography systems to post-quantum cryptography by 2035, according to a master plan disclosed on Wednesday.

Laying out the decadelong roadmap in six tracks, the master plan aims to protect the nation from quantum computing threats and fortify national cybersecurity from a long-term perspective.

In a press release published on the national information security anniversary, the National Intelligence Service and the Ministry of Science and ICT elaborated three objectives that the master plan pursues.

The major objective is to develop action plans for the six tracks by 2024. The six tracks include technology acquisitions, amendments to regulations, the establishment of procedures, a support system for cryptography transformation, the advancement of assurance infrastructure, and the construction of the industrial base.

The other objectives encompass the launch of the commission on nationwide cryptography transformation and the construction of a support system in technology and policy for post-quantum cryptography. READ MORE

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  • Dain Oh
    : Author

    Dain Oh is a distinguished journalist based in South Korea, recognized for her exceptional contributions to the field. As the founder and editor-in-chief of The Readable, she has demonstrated her expe...

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